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In our third episode “Franchise Regulations – What to know about franchising business in Thailand”, our team discusses what it means to operate a franchise and limitations operators may face under competition law.

This series is the latest installment in our YouTube video chats which feature interesting key legal developments across various areas. This video is in Thai.

Anti-Money Laundering and Combating the Financing of Terrorism measures play an important role for financial institutions and specified non-financial businesses (collectively referred to as Reporting Entities), to combat money laundering and the financing of terrorism. The relevant AML/CFT laws, regulations and guidelines have been continuously improved in order to comply with international standards. To keep up with the dynamic and evolving regulatory developments, Baker McKenzie has issued this publication to provide an overview of Thailand’s AML/CFT regulations and guidelines.

Discussion about and around sustainable development is more critical now than ever as governments around the world have announced their commitment to achieve carbon neutrality and net zero greenhouse gas emissions during the 26th United Nations Climate Change’s Conferences of the Parties (COP 26) in Glasgow, and Thailand is no exception. Prime Minister Prayut Chan-o-cha announced Thailand’s commitment to become carbon neutral by 2050 and have net zero greenhouse gas emissions by 2065.

Many of us have heard the term “Metaverse,” which is commonly used to refer to the combination of technologies that allows us to access a virtual reality world or bring virtual reality into the physical world, as first mentioned in Neal Stephenson’s scientific novel “Snow Crash” (1992). The term “Metaverse” has become one of the biggest buzzwords over the past year, and recently we have seen tech giants striking deals to take part in the metaverse.

At present, certain promotional activities (e.g., sweepstakes, raffle games or random premiums) are subject to the Gambling Act, B.E. 2478 (1935), which require the business operator to get permission from the Department of Provincial Administration. The Gambling Act regulates all sweepstakes activities with a strict and complicated permission system. The Office of the Council of State has now updated the requirements under the Gambling Act by passing the Bill on Sweepstakes Activities in the Course of Business or Occupation to reduce the strict procedures and difficulties for business operators in arranging these promotional activities.

Amidst the surging interest in environmental, social and governance considerations, the Ministry of Industry has revised the obligations under its notification on certain factory operators in monitoring and reporting air pollution data. The aim of this notification is to bring up to date the current requirements, extend the coverage of applicability and help improve the availability of emission data to the public.

In Part 1 of our newsletter on sustainability and investment promotion, we discussed the current climate of a drive towards sustainability goals and the role of the Thailand Board of Investment in supporting businesses in this direction. In this second part, we will elaborate on measures adopted by the Thailand Board of Investment so far, including: measure to promote Thailand as the regional EV hub; measure to promote sustainability-related activities; special measures to improve production efficiency; and measure to promote a grassroots economy.

In 2021-2022, the digital assets industry in Thailand has been growing significantly as more big players in the traditional financial industry and start-up players enter into the digital assets market. It seems that the frenzy of price volatility and the regulatory complexities could not slow down the rise of crypto activities. To keep up with these dynamic and evolving regulatory developments in 2022, we have revised this publication to provide an update of the regulations pertaining to digital assets in Thailand, which cover the regulations regarding custodial wallet providers, digital asset payments and NFTs, including the SEC’s proposed rules on ready-to-use utility tokens, advertisements and IT standards.

In our brand new series “Instant Competition”, the Competition team at Baker McKenzie discusses the Thai Trade Competition Act and its impact on business operators across all industries.

In our first episode “Instant Competition Overview: Introduction to Thai Trade Competition Law”, our team discusses competition law and the role of regulator in the competition landscape in Thailand. This is followed by “Instant Competition EP. 2: Thai merger control regulations – what you should know” focusing on merger control regulations under the Thai Trade Competition Act.

This series is the latest installment in our YouTube video chats which feature interesting key legal developments across various areas. This video is in Thai.