SEC Updates Fee Regulations for Listed Companies’ Annual Registration Statements
The Securities and Exchange Commission (SEC) has made updates to the fee regulations for listed companies’ annual registration statement filings. The recent amendments involve repealing the fee reduction for these filings, while still maintaining existing fee reduction measures. The SEC plans to review and enhance conditions moving forward, with the changes set to take effect from 2025.
In a nutshell, the SEC has revised its regulations to align better with current conditions by removing the fee reduction for filing annual registration statements of listed companies. This adjustment aims to ensure that companies meet legal requirements and pay fees in a timely manner.
According to the Notification of the Office of the Securities Exchange Commission No. Sor Bor. 28/2547, companies listed on the Stock Exchange of Thailand (SET) were previously eligible for a 20-percent reduction in the annual registration statement filing fee. However, this reduction is contingent upon certain conditions, such as having no history of criminal offenses related to financial reporting and adhering to payment deadlines.
The SEC has observed that most listed companies have complied with the conditions for fee reductions over the years. This indicates that the criteria effectively encourage companies to meet financial reporting standards and pay fees promptly as mandated by law. Given this success, the SEC has decided to eliminate the fee reduction for annual registration statements to uphold legal obligations for listed companies.
While this change may impact companies, the SEC encourages them to focus on key issues and utilize other benefits, such as deducting consultant/reviewer expenses from filing fees for registration statements. The SEC also plans to refine these measures to alleviate company burdens and foster cooperation.
These amendments will be applicable to the 2024 annual registration statements, with fees payable starting from 2025. Companies are advised to be prepared for these changes and ensure compliance with the revised regulations.
