S/C/N/906 17 May 2018 (18-2965) Page: 1/2 Council for Trade in Services Original: English NOTIFICATION PURSUANT TO ARTICLE III:3 OF THE GENERAL AGREEMENT ON TRADE IN SERVICES The following notification, dated 16 May 2018, from the delegation of Thailand, is being circulated to the Members of the Council for Trade in Services. _______________ 1 MEMBER NOTIFYING: Thailand 2 NOTIFICATION UNDER: Article III:3 of the General Agreement on Trade in Services 3 DATE OF ENTRY INTO FORCE: 6 June 2017 Duration Indefinite 4 AGENCY RESPONSIBLE FOR ENFORCEMENT OF THE MEASURE: Bank of Thailand 5 DESCRIPTION OF THE MEASURE: Measure: Notice of the Competent Officer Rules and Practices regarding the Undertaking of FX Broker. Description: Any person undertaking foreign exchange brokerage business shall have one of the following qualifications: I. Thai company 1) Allow to provide services in two forms: - Voice Broker: providing matching transactions of purchase, sale or exchange of foreign currencies to customers by staff of the authorized foreign exchange broker; - Electronic Broker: providing matching transactions of purchase, sale or exchange of foreign currencies to customers by electronic platform. S/C/N/906 - 2 - 2) Having paid up registered capital not less than THB 5 Million and having sound financial position. 3) Having a Thai citizen or a juristic person registered in Thailand as partners or shareholders, which contributes more than half of its paid-up registered capital. 4) Having an authorized director in case of a limited company or public company, or a managing partner in case of a partnership who is knowledgeable and have appropriate experience. II. Branch of an overseas company 1) Electronic Broker: only able to provide matching transactions of purchase, sale or exchange of foreign currencies to customers by electronic platform. 2) Having been experienced in conducting foreign exchange broker, which provides matching transactions of purchase, sale or exchange of foreign currencies for customers using electronic platform, operating outside Thailand and must have been under supervision of authority or regulatory agency responsible for such business in that country for at least 3 years prior to the date of submitting an application. 3) Persons responsible for operations in Thailand must be knowledgeable and have appropriate experience. 6 MEMBERS SPECIFICALLY AFFECTED, IF ANY: None 7 TEXTS AVAILABLE FROM: Bank of Thailand 273 Samsen Road, Watsamphraya, Phra Nakhon District, Bangkok 10200 Tel : (+66) 2283 5168 https://www.bot.or.th __________ .