ืžื•ืคืขืœ ืข"ื™
Regulation & Legal

ื™ื•"ืจ SEC ื”ื—ื“ืฉ ื”ื•ืฉื‘ืข, ืžืชื—ื™ื™ื‘ ืœื”ืกื“ื™ืจ ื‘ืื•ืคืŸ ื‘ืจื•ืจ ืืช ืชื—ื•ื ื”ืงืจื™ืคื˜ื• ื•ืœื”ืฆืžื™ื— ืืช ื”ืฉื•ืง

ืžืืžืจ ื–ื” ืคื•ืจืกื ืœืคื ื™ ื™ื•ืชืจ ืžืฉื ื”. ื—ืœืง ืžื”ืžื™ื“ืข ืขืฉื•ื™ ืœื ืœื”ื™ื•ืช ืขื“ื›ื ื™.

ืฉื—ืจ ืฉืœ ืขื™ื“ืŸ ื—ื“ืฉ ื‘-SEC ื›ืฉื”ื™ื•ืฉื‘ ืจืืฉ ื”ื—ื“ืฉ ืžืœื ื›ื•ื•ื ื•ืช ืœืขืฉื•ืช ืฉื™ื ื•ื™ ื ื•ืขื– ื›ืœืคื™ ืจื’ื•ืœืฆื™ื™ืช ื ื›ืกื™ื ื“ื™ื’ื™ื˜ืœื™ื™ื ื™ื“ื™ื“ื•ืชื™ืช ืœืฉื•ืง, ืฉื™ื›ื•ืœื” ืœื”ืฆื™ืช ืฆืžื™ื—ื” ื‘ืชืขืฉื™ื™ื”.

ื ื›ืชื‘ ืข"ื™
ืฉืชืฃ
ื™ื•"ืจ SEC ื”ื—ื“ืฉ ื”ื•ืฉื‘ืข, ืžืชื—ื™ื™ื‘ ืœื”ืกื“ื™ืจ ื‘ืื•ืคืŸ ื‘ืจื•ืจ ืืช ืชื—ื•ื ื”ืงืจื™ืคื˜ื• ื•ืœื”ืฆืžื™ื— ืืช ื”ืฉื•ืง

ื”ืขื™ื“ืŸ ื”ื—ื“ืฉ ืฉืœ ื”-SEC ืžืชื—ื™ืœ: ื”ืื ื ื›ืกื™ื ื“ื™ื’ื™ื˜ืœื™ื™ื ืกื•ืฃ ืกื•ืฃ ื™ืงื‘ืœื• ืืช ื”ื‘ื”ื™ืจื•ืช ืฉื”ื ืžืฉืชื•ืงืงื™ื ืœื”?

ื ืฆื™ื‘ื•ืช ื ื™ื™ืจื•ืช ื”ืขืจืš ื•ื”ื‘ื•ืจืกื” ืฉืœ ืืจื”โ€ื‘ (SEC) ื”ื›ืจื™ื–ื” ื‘-21 ื‘ืืคืจื™ืœ ื›ื™ ืคื•ืœ ื. ืื˜ืงื™ื ืก ื”ื•ืฉื‘ืข ื›ื™ื•ืฉื‘ ืจืืฉ ื”-34 ืฉืœ ื”ืกื•ื›ื ื•ืช. ื”ืžื™ื ื•ื™ ื”ื’ื™ืข ืœืื—ืจ ืฉื”ื•ืฆื’ ืขืœ ื™ื“ื™ ื”ื ืฉื™ื ื“ื•ื ืœื“ ื˜ืจืืžืค ื•ืื•ืฉืจ ืขืœ ื™ื“ื™ ื”ืกื ืื˜ ื”ืืžืจื™ืงืื™ ื‘-9 ื‘ืืคืจื™ืœ. ื›ืฉื—ื•ื–ืจ ืœืืจื’ื•ืŸ ื‘ื• ืฉื™ืจืช ืคืขื ื›ื ืฆื™ื‘ ื‘ื™ืŸ ื”ืฉื ื™ื 2002 ืœ-2008, ืื˜ืงื™ื ืก ืœื•ืงื— ืืช ื”ืžื•ืฉื›ื•ืช ื‘ืชืงื•ืคื” ืฉืœ ื‘ื—ื™ื ื” ืจื’ื•ืœื˜ื•ืจื™ืช ืžืชืžืฉื›ืช ื•ื”ืชืคืชื—ื•ืช ื”ืฉื•ืง.

ื‘ื”ืขืจื•ืชื™ื• ื”ืจืืฉื•ื ื•ืช ื›ื™ื•ืฉื‘ ืจืืฉ, ื”ื•ื ื”ื›ื™ืจ ื‘ืื—ืจื™ื•ืช ื•ืื™ืฉืจ ืžื—ื“ืฉ ืืช ื”ืงื“ืฉืชื• ืœืžื˜ืจื•ืช ื”-SEC:

ืื ื™ ืžื›ื•ื‘ื“ ืžื”ืืžื•ืŸ ื•ื”ื‘ื™ื˜ื—ื•ืŸ ืฉื”ื ืฉื™ื ื˜ืจืืžืค ื•ื”ืกื ืื˜ ื”ืคืงื™ื“ื• ื‘ื™ ืœื”ื•ื‘ื™ืœ ืืช ื”-SEC.

โ€œื›ืืฉืจ ืื ื™ ื—ื•ื–ืจ ืœ-SEC, ืื ื™ ืฉืžื— ืœื”ืฆื˜ืจืฃ ืœืžื ื”ืœื™ื ื”ืขืžื™ืชื™ื ืฉืœื™ ื•ืœืžืงืฆื•ืขื ื™ื ื”ืžืกื•ืจื™ื ืฉืœ ื”ืกื•ื›ื ื•ืช ืœืงื“ื ืืช ืžืฉื™ืžืชื” ืœื”ืงืœ ืขืœ ื”ื™ื•ื•ืฆืจื•ืช ื”ื•ืŸ; ืœืฉืžื•ืจ ืขืœ ืฉื•ื•ืงื™ื ื”ื•ื’ื ื™ื, ืžืกื•ื“ืจื™ื ื•ื™ืขื™ืœื™ื; ื•ืœื”ื’ืŸ ืขืœ ืžืฉืงื™ืขื™ื. ื™ื—ื“ ื ืขื‘ื•ื“ ืœื”ื‘ื˜ื™ื— ืฉืืจื”โ€ื‘ ืชื”ื™ื” ื”ืžืงื•ื ื”ื˜ื•ื‘ ื•ื”ื‘ื˜ื•ื— ื‘ื™ื•ืชืจ ื‘ืขื•ืœื ืœื”ืฉืงื™ืข ื•ืœืขืฉื•ืช ืขืกืงื™ื,โ€ ื”ื•ืกื™ืฃ ื™ื•โ€ืจ ื”-SEC ื”ื—ื“ืฉ.

ืื˜ืงื™ื ืก ืžื’ื™ืข ืœืชืคืงื™ื“ ืžื—ื‘ืจืช ืคื˜ื•ืžืง ื’ืœื•ื‘ืœ ืคืจื˜ื ืจืก, ื—ื‘ืจืช ื™ื™ืขื•ืฅ ืฉื”ืงื™ื ื‘-2009. ื›ืžื ื›โ€ืœ, ื”ื•ื ื”ืชืžืงื“ ื‘ื™ื™ืขื•ืฅ ืœืžื•ืกื“ื•ืช ืคื™ื ื ืกื™ื™ื ื•ื‘ืคื™ืชื•ื— ืคืจืงื˜ื™ืงื•ืช ืชืขืฉื™ื™ืชื™ื•ืช ืžื™ื˜ื‘ื™ื•ืช ืขื‘ื•ืจ ืžื’ื–ืจ ื”ื ื›ืกื™ื ื”ื“ื™ื’ื™ื˜ืœื™ื™ื. ื›ืžื• ื›ืŸ, ื”ื•ื ื”ื—ื–ื™ืง ื‘ืชืคืงื™ื“ื™ ื ื™ื”ื•ืœ ื‘ืชืฉืชื™ืช ื”ืฉื•ืง, ื›ื•ืœืœ ื›ื”ื•ื ืชื• ื›ืžื ื”ืœ ืขืฆืžืื™ ื•ื™ื•โ€ืจ ืœื ื‘ื™ืฆื•ืขื™ ืฉืœ ื”ื“ื™ืจืงื˜ื•ืจื™ื•ืŸ ื‘ื‘ืื˜ืก ื’ืœื•ื‘ืœ ืžืจืงื˜ืก ื‘ืขโ€ืž ื‘ืฉื ื™ื 2012 ืขื“ 2015.

ื‘ืžื”ืœืš ื›ื”ื•ื ืชื• ื”ืงื•ื“ืžืช ื‘-SEC ื”ื•ื ื”ืชื‘ืœื˜ ื‘ื“ื—ื™ืคื” ืขืงื‘ื™ืช ืœืฉืงื™ืคื•ืช, ื ื™ืชื•ื— ืขืœื•ืช-ืชื•ืขืœืช ื‘ื™ืฆื™ืจืช ืชืงื ื•ืช ื•ื‘ื”ื™ืจื•ืช ืจื’ื•ืœื˜ื•ืจื™ืช. ื‘ืžื”ืœืš ื”ื–ืžืŸ ื”ื–ื”, ื”ื•ื ื’ื ื™ื™ืฆื’ ืืช ื”ื ืฆื™ื‘ื•ืช ื‘ืงื‘ื•ืฆืช ื”ืขื‘ื•ื“ื” ืฉืœ ื”ื ืฉื™ื ื‘ืฉื•ื•ืงื™ื ื”ืคื™ื ื ืกื™ื™ื ื•ื‘ืžื•ืขืฆื” ื”ื›ืœื›ืœื™ืช ื”ื˜ืจื ืก-ืื˜ืœื ื˜ื™ืช ืฉืœ ืืจื”โ€ื‘-ื”ืื™ื—ื•ื“ ื”ืื™ืจื•ืคื™. ื‘-2009, ื”ื•ื ื”ืฆื˜ืจืฃ ืœืคืื ืœ ื”ืคื™ืงื•ื— ื”ืงื•ื ื’ืจืกื™ ืฉื™ื•ืขื“ ืœื‘ื—ื™ื ืช ืชื›ื ื™ืช ื”ืกื™ื•ืข ืœื ื›ืกื™ื ื‘ืขื™ืชื™ื™ื ื‘ืขืงื‘ื•ืช ื”ืžืฉื‘ืจ ื”ืคื™ื ื ืกื™. ืœืคื ื™ ืฉื™ืจื•ืชื• ื”ืฆื™ื‘ื•ืจื™, ืื˜ืงื™ื ืก ืขื‘ื“ ื›ืขื•ืจืš ื“ื™ืŸ ืชืื’ื™ื“ื™, ืžื™ื™ืขืฅ ื‘ืžื™ื–ื•ื’ื™ื ื•ืจื›ื™ืฉื•ืช, ื”ื•ืฆืื•ืช ื ื™ื™ืจื•ืช ืขืจืš ื•ืขืกืงืื•ืช ืืกื˜ืจื˜ื’ื™ื•ืช ืขื‘ื•ืจ ืœืงื•ื—ื•ืช ืžืงื•ืžื™ื™ื ื•ื‘ื™ื ืœืื•ืžื™ื™ื.

ื”ื•ื ืืžืจ ืœืงื•ื ื’ืจืก ื‘ืžืจืฅ:

ืขื“ื™ืคื•ืช ืขืœื™ื•ื ื” ืฉืœ ื›ื”ื•ื ืชื™ ื›ื™ื•ืฉื‘ ืจืืฉ ืชื”ื™ื” ืœืขื‘ื•ื“ ืขื ืขืžื™ืชื™ ื”ื ืฆื™ื‘ื™ื ื•ื”ืงื•ื ื’ืจืก ืขืœ ืžื ืช ืœืกืคืง ื™ืกื•ื“ ืจื’ื•ืœื˜ื•ืจื™ ืชืงื™ืฃ ืœื ื›ืกื™ื ื“ื™ื’ื™ื˜ืœื™ื™ื ื‘ืืžืฆืขื•ืช ื’ื™ืฉื” ืจืฆื™ื•ื ืœื™ืช, ืขืงื‘ื™ืช ื•ืžืขืงืจื•ื ื™ืช.

ืงื”ื™ืœืช ื”ืงืจื™ืคื˜ื• ื‘ืขื™ืงืจ ืงื™ื‘ืœื” ื‘ื‘ืจื›ื” ืืช ืžื™ื ื•ื™ื• ืฉืœ ืื˜ืงื™ื ืก ืœื™ื•ืฉื‘ ืจืืฉ ื”-SEC, ื‘ื”ืชื‘ื•ื ื ื•ืช ื‘ื›ืš ื›ื”ื–ื–ื” ืœื›ื™ื•ื•ืŸ ืจื’ื•ืœืฆื™ื” ืžื•ืขื™ืœื” ื™ื•ืชืจ. โ€œืคื•ืœ ืื˜ืงื™ื ืก ื‘ืจืืฉ ื”-SEC ื™ื‘ื™ื ื”ื™ื’ื™ื•ืŸ ื‘ืจื™ื ื‘ื—ื–ืจื” ืœืกื•ื›ื ื•ืช,โ€ ืืžืจ ืžื ื›โ€ืœ ืจื™ืคืœ, ื‘ืจืื“ ื’ืจืœื™ื ื’ื”ืื•ืก. ื‘ืขื•ื“ ืจื‘ื™ื ื‘ืชืขืฉื™ื™ื” ืื•ืคื˜ื™ืžื™ื™ื ืœื’ื‘ื™ ื”ืคื•ื˜ื ืฆื™ืืœ ืฉืœ ื—ื“ืฉื ื•ืช ื•ื‘ื”ื™ืจื•ืช ืชื—ืช ืื˜ืงื™ื ืก, ื—ืœืง ืžื”ืžื‘ืงืจื™ื ืžื‘ื™ืขื™ื ื“ืื’ื” ืœื’ื‘ื™ ืงืฉืจื™ื• ื”ื›ืœื›ืœื™ื™ื ืœื—ื‘ืจื•ืช ืงืจื™ืคื˜ื• ื•ืžื˜ื™ืœื™ื ืกืคืง ื”ืื ื’ื™ืฉืชื• ืขืฉื•ื™ื™ื” ืœืคื’ื•ืข ื‘ื”ื’ื ื•ืช ื”ืžืฉืงื™ืขื™ื.

ืžืืžืจ ื–ื” ืชื•ืจื’ื ืžืื ื’ืœื™ืช ื‘ืืžืฆืขื•ืช ื‘ื™ื ื” ืžืœืื›ื•ืชื™ืช. ื”ื’ืจืกื” ื”ืžืงื•ืจื™ืช ื‘ืื ื’ืœื™ืช ื”ื™ื ื”ืžืงื•ืจ ื”ืงื•ื‘ืข; ืชืจื’ื•ืžื™ื ืื•ื˜ื•ืžื˜ื™ื™ื ืขืฉื•ื™ื™ื ืœื”ื›ื™ืœ ืื™-ื“ื™ื•ืงื™ื, ื‘ืžื™ื•ื—ื“ ื‘ืžื•ื ื—ื™ื ืžืฉืคื˜ื™ื™ื ื•ืจื’ื•ืœื˜ื•ืจื™ื™ื.

ืชื’ื™ื•ืช ื‘ื›ืชื‘ื” ื–ื•