Amendment to Guidelines on Fair Trade Practices related to Credit Terms for SMEs
The Trade Competition Commission issued a New Notification concerning Guidelines for Consideration of Fair Trade Practices related to Credit Terms in the case of Small and Medium-sized Enterprises (“SMEs“) being Sellers of Goods or Services (No. 2) (“New Notification“) that took effect on 16 September 2022. The New Notification requires that SMEs must now meet the employment and income criteria (under the previous notification, it was either employment or income criterion). An SME must also provide evidence of employment and income to prove its SME status.
New Guidelines Issued on the Collection of Personal Data
On 7 September 2022, the Personal Data Protection Committee (“PDPC“), as the Thai personal data protection regulator, issued two sets of guidelines, namely, (i) guidelines on procedures for providing a notification of the purposes and details relating to the collection of personal data from data subjects; and (ii) guidelines on procedures for requesting consent from data subjects. The purposes of these two sets of guidelines are to provide details of and clarity to the requirements as to the consent request and notification of privacy notice/policy so that the data controllers and any relevant persons can be aware of and gain a better understanding of how to comply with such requirements.
Tougher Controls on Digital Assets
The Securities and Exchange Commission (“SEC“) has issued new rules which tighten the standards and requirements, and also the regulatory oversight on the advertising of digital assets. The new rules took effect on 1 September 2022. The main objective of the new rules is to introduce more stringent requirements on advertisement of digital asset, which include a restriction on the content of advertisements, the display of warnings for investment risk, the reduction of channels through which the advertisements can be placed (i.e. for the cryptocurrency, the digital asset operator can advertise only through its official channels), and the requirement to disclose details related to the advertisements and expenses thereof, which include the use of influencers and bloggers, to SEC within certain prescribed timeframes.
New Regulation on Personal Data Complaints
The Personal Data Protection Committee (“PDPC“) issued a regulation on the filing, refusal of acceptance, dismissal, consideration, and timeframe for the consideration of complaints, which took effect on 12 July 2022. In brief, the regulation provides that where the Data Controller or the Data Processor, including the employee or the service provider of the Data Controller or the Data Processor, violates or does not comply with the Personal Data Protection Act, the data subject has the right to file a Complaint to the Expert Committee either by: (i) direct submission; (ii) mail, or (iii) filing via electronic means or any other means, as may be prescribed by the Office of the PDPC.
Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice
