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Effective from 1 August 2016, Thailand's Securities and Exchange Commission (the SEC) issued a notification on Determination of Untrustworthy Characteristics of Directors and Executives of Companies (i.e. issuing companies or listed companies)1 which will now cover an immediate ban for directors and executives who are fined by the Criminal Fining Committee based upon certain restricted offences including unfair trading offences such as insider trading.

Under these new rules, the persons who are fined on or after 1 August 2016 will now be considered lacking trustworthy characteristics and immediately banned from being directors or executives in issuing or listed companies for 3 years unless it is determined that the conduct was not a serious offence.

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