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Still room for regulators to intervene
Bangkok Post
|March 24, 2025
The draft Financial Hub bill does not confer absolute or exclusive authority over the supervision of financial transactions.
However, if financial transactions under this law affect the country’s economic stability or financial system, regulators such as the Bank of Thailand, the Securities and Exchange Commission (SEC), and the Office of the Insurance Commission (OIC) have the authority to intervene and oversee transactions, said Pornchai Thiraveja, director-general of the Fiscal Policy Office.
He said the authority of the One Stop Authority (OSA), as outlined in the draft Act, was designed with input from the central bank, SEC and OIC, in collaboration with the Interior Ministry, the Office of the Council of State, the Anti-Money Laundering Office (Amlo), the Board of Investment, the Revenue Department, the Department of Consular Affairs, the Department of Business Development, and the Office of Justice Affairs.
This story is from the March 24, 2025 edition of Bangkok Post.
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