The Thailand Securities and Exchange Commission has revised the approval rules for major shareholders of derivatives business operators, extending oversight to ultimate controlling persons and aligning the framework with that for securities and digital asset businesses. The rules took effect on Aug. 16, 2026. Major shareholder status now covers anyone with direct or indirect power to control the appointment or removal of at least half of an operator’s directors. Assessments must also account for spouses, cohabiting partners, minor children, voting arrangements and persons acting in concert. Supporting guidelines address indirect ownership using the pro-rata method and significant funding providers, with the aim of improving ownership transparency and mitigating illicit financing and money laundering risks. Operators must review their major shareholders and apply for SEC approval within 180 days of the effective date for any person newly captured by the revised definition who was not approved under the previous rules.
2026-08-17Thailand Securities & Exchange Commission
Thailand Securities and Exchange Commission revises derivatives firms’ major shareholder rules to capture ultimate controllers
The Thailand Securities and Exchange Commission has expanded major shareholder approval rules for derivatives business operators to capture ultimate controllers and persons acting in concert. Operators must review their ownership structures and seek approval within 180 days of Aug. 16, 2026, for newly covered major shareholders.