SEC orders daily report of

The Securities and Exchange Commission now requires all brokers in Thailand to report their net capital rule (NCR) on a daily basis, instead of monthly as in the past.

"Since the financial crisis [in the US] erupted, we have ordered brokers to report their NCR to us every day. They reported every month in the past," senior assistant secretary-general Pravej Ongartsittigul was quoted by Thai-language newswire Reuters as saying yesterday.

The securities watchdog now requires brokers to maintain a minimum NCR at 7 per cent of general indebtedness.

NCR indicates a broker's financial position to ensure that it maintains sufficient liquid assets to meet debt obligations should it run into financial difficulty.

Pravej gave an assurance that the financial positions of all brokers in Thailand remained strong.