On 16 April 2026, Thai GVT proposed revising definition for derivatives firms.
- Thai GVT said Thai SEC commenced consultation on a draft notification revising the definition of major shareholder for derivatives business operators.
- The objective is to strengthen oversight by capturing the true controlling persons and aligning rules with those applied to securities firms and digital asset operators.
- Follows Thai SEC Jan. 2026 proposed revising definition for derivatives operators.
- Also follows Thai SEC Apr. 2026 sought feedback on additional major shareholder principle.
Proposal
- The revised definition expands major shareholder to include individuals who have the power, directly or indirectly, to appoint or remove at least half of the company’s directors.
- The assessment of major shareholding must also aggregate holdings of spouses and minor children, as well as persons acting in concert or allowing others to exercise voting rights on their behalf.
- Derivatives business operators will be required to reassess their major shareholders under the new criteria.
- Any shareholders meeting the new definition but not previously approved must seek regulatory approval within 180 days from the effective date.
Effectiveness
- Consultation period for the consultation closes on 1 May 2026.
