As part of the SET regulations that became effective from January 14, 2002 onwards, a minimum brokerage commission rate was established, at 0.25% of the value of the securities traded. It also limited member companies to paying marketing officers no more than 25% of the total brokerage fee received. However, member companies were prohibited from including the trading value of their own securities or the securities of other listed companies connected to them in the calculation of marketing officers' incentives. The SET has been closely monitoring compliance to this rule.
"It is now generally accepted that member companies have complied with the rules on brokerage commission fees that established a minimum rate of 025%, and on paying marketing officers no more than 25%, as agreed amongst the member companies. It is therefore time the SET relaxed the related regulations in order to allow marketing officers, who have demonstrated that they can perform professionally and ethically, to receive what they were previously prohibited to receive. The amendment to this rule has been effective from April 29, 2002 onwards," the President of the SET, Mr. Kittiratt Na-Ranong, said.
Nevertheless, the SET will still retain the Special Audit Unit to police infringements of the minimum brokerage rules as well as those on the remuneration of marketing officers, and to actively pursue those who intentionally infringe the rules and cause damage to other member companies. "When one does a good deed, one should be rewarded. But if one intentionally infringes the rules, they must be punished, with no exceptions. Now we are delighted that everybody is cooperating and that we are entering a period where we can relax the rules for those who follow them," Mr. Kittiratt concluded.
