Quick fix sought to bolster listing rules

Finance Minister Arkhom Termpittayapaisith has instructed the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission (SEC) to speed up finding more effective measures to prevent falsified financial accounts from being used to list a company on the bourse.

One of the important measures ordered by the minister is that the SET and SEC jointly seek to amend relevant laws to ensure auditors and auditing companies are also prosecuted if involved in the falsification of financial statements for a company, said Mr Arkhom.

He was commenting on a scandal involving the Stark Corporation.

The Department of Special Investigation has agreed to investigate Stark over suspicions of fraud by its former executives, which came to light after the publicly listed wire and cable maker failed to submit its financial statements on time as required by law.

Mr Arkhom…