On 24 December 2025, Thai SEC sought feedback on revising definition of major shareholders.
- Thai SEC said it is seeking public comments on the principles for revising the definition of major shareholders for securities businesses and digital asset businesses.
- Review is necessary because of increasing complexity of shareholding structures.
Proposed Revisions
- Revisions include expanding the definition of major shareholder to include those with controlling power, as well as adding a pro-rata method of calculation.
- Aims to include major shareholders requiring approval from those with actual controlling power, having appropriate qualifications and no disqualifying characteristics.
- Must take into account spouses and minor children, and behaviors such as acting in concert or allowing others to vote.
- Aims to ensure that major shareholders requiring approval reflect true ownership and controlling power, enhancing transparency, business credibility and market confidence.
- Thai SEC approved approach to revise the definition on 17 December 2025.
Effectiveness
- The consultation will close on 9 January 2026.
