The Thailand Securities and Exchange Commission published a progress update on its joint capital market reform program with the Ministry of Finance, the Stock Exchange of Thailand and the Federation of Thai Capital Market Organizations, and said nine of 14 priority measures have made clear progress, while three remain under design or discussion and two need to be accelerated. In parallel, the SEC and the Thai Bond Market Association established a Thai Bond Market Development Taskforce to prepare policy proposals and implementation plans for the bond market. Across the four reform pillars, work on quality demand includes a framework for Thailand Individual Savings Accounts that is being prepared for Cabinet submission, alongside broader scope for institutional investors to allocate to the domestic capital market. On supply, efforts are focused on attracting quality and new economy issuers and improving listed company quality through the Jump+ Program, which has 142 participating companies, and the Corporate Value Up Program, under which four companies have disclosed information and about 117 are under consideration. On market integrity, disclosure rules for listed companies have been revised, including interim management discussion and analysis, material transactions and related party transactions, while the roles of internal auditors, financial advisers and company secretaries have been strengthened. Ecosystem measures include accommodating tokenized bonds and funds, developing digital infrastructure, reviewing market structure in light of trading behavior, and promoting e-proxy to ease rights exercise by foreign investors. The new bond market taskforce will focus on broadening and improving the investor base, expanding product choice, raising disclosure and investor protection standards, and developing supporting infrastructure and rules. The SEC said this work responds to a bond market worth about 96 percent of gross domestic product, including roughly THB 4.68 trillion of corporate bonds, while also addressing structural issues such as retail investors accounting for nearly 50 percent of the corporate bond market. Stakeholder discussions under the bond market workstream are planned for June to July 2026, with results expected to be reported to FETCO by July 2026 and a work plan finalized by September 2026.

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