Thailand plans to empower its market regulator to investigate criminal activities in the nation’s securities markets after series of corporate scandals eroded investor confidence.

Proposed legal changes will give the Security and Exchange Commission the authority to probe suspected illegal conduct, said Kitipong Urapeepatanapong, chairman of the Stock Exchange of Thailand. The amendments will speed up imposing charges and punishment against violators, he said.

Thai authorities are looking to bolster rules and controls on listed companies and stock trading after corporate frauds, including irregularities at Stark Corp, dented investor confidence. Prime Minister Srettha Thavisin has urged regulators to improve their oversight after about US$94 billion of market value was wiped off the nation’s equities from a peak in 2023.

“We want to demonstrate that punishment of wrongdoers will be quick and tough to scare them off,” Kitipong, who was appointed as the bourse’s new chairman last week, said in an interview. “Justice delayed is justice denied.”

The SEC currently can only file complaints to police of suspected criminal activity in the markets such as inside trading, stock manipulation and corporate fraud, Kitipong said. Probes are typically lengthy due to investigators’ limited resources and expertise, he said.

  - Bloomberg