SEC poised to launch Securities Bureau

The Securities and Exchange Commission (SEC) expects to launch the Securities Data Exchange Platform, also known as the Securities Bureau, by early 2026 as part of efforts to strengthen risk management in the brokerage system.

- NUNTAWUN POLKUAMDEE

The platform is meant to serve as a centralised database for margin loan information across all securities firms, addressing structural weaknesses exposed by the More Return (MORE) scandal, which was discovered in November 2022.

Anek Yooyuen, the SEC's deputy secretary-general and spokesperson, said the Securities Bureau will allow securities companies to access shared client data to better assess credit risk before extending margin loans. The approach is similar to how commercial banks use information from the Credit Bureau to evaluate borrowers' creditworthiness.

The initiative was developed in response to severe market disruptions caused by the MORE case, in which a single investor reportedly obtained margin loans from multiple brokers to purchase MORE shares but failed to settle payment on time.

The incident left several brokers absorbing losses of over 1 billion baht and sparked concerns over market integrity and systemic risk management.