SEC is an independent federal government agency responsible for protecting investors, maintaining the integrity of securities markets and facilitating capital formation. The SEC promotes full public disclosure, protects investors against fraudulent and manipulative practices in the market, and monitors corporate takeover actions.

The SEC’s primary function is to oversee organizations and individuals in the securities markets, including securities exchanges, brokerage firms, dealers, investment advisors and various investment funds. Through established securities rules and regulations, the SEC promotes disclosure and sharing of market-related information, fair dealing and protection against fraud. It provides investors with access to registration statements, periodic financial reports and other securities forms through its comprehensive electronic, data gathering, analysis and retrieval (EDGAR) database.

Generally, issues of securities offered in interstate commerce, through the mail or on the Internet, must be registered with the SEC before they can be sold to investors. Financial services firms, such as broker-dealers, advisory firms and asset managers, as well as their professional representatives, must also register with the SEC to conduct business.

In Thailand, SEC is not only to perform the tasks as managing agency financial markets, the Securities Commission and transactions as above but in addition, the SEC has added functionality to enact laws for the issuance of coin/token (ICO) in particular and the cryptocurrency field in general.

SEC will pass permission to authorized third-party who is able to expertize ICO project.

The management structure and operation plan of these ICO issuers will be audited by the SEC. They must be prepared to evaluate the ICO business plans and token distribution structure as well as to make sure that the source code conforms to the published information.

Once passed the SEC assessment, the token can be evaluated for legitimacy.

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