Securities Brokerage Regulation: The Effectiveness of Regulation Implementation
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Abstract
The objectives of this paper were to investigate the effectiveness of securities brokerage regulation
implementation and to examine the variables that have a relationship with the effectiveness of securities
brokerage regulation implementation by Thailand Securities and Exchange Commission (SEC). The variables
were broken down into two tiers, the results from empirical analysis found communication to have the highest
relationship and also the predicting variable for the effectiveness of securities brokerage regulation
implementation within the first tier. In the second tier, willingness to comply was found to have the highest
relationship and was also considered to be a predicting variable in the effectiveness of securities brokerage
regulation implementation. The result of the analysis points out the significance of the communication process
of the supervisory agency. Moreover, the attention towards the target group should not be paid with less
significance than that of the supervisory agency. The effectiveness of regulation implementation requires the
effort of both the supervisory agency and the target group.
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