Regulator to ban Thais from trading NVDRsThe Securities and Exchange Commission (SEC) building on Vibhavadi Rangsit Road. The SEC is preparing to ban Thai investors from trading non-voting depository receipts (NVDRs), aiming to close an avenue for fraud in the capital market following the More Return Plc (MORE) case. NVDR, a trading instrument initiated by the Stock Exchange of Thailand (SET), allows foreign investors to invest beyond the foreign ownership limit. The regulator will order this channel to be closed to Thai investors, allowing only foreign investors to trade using this instrument, said Ms Pornanong. Although NVDRs have the objective of facilitating foreign investment, they previously did not prohibit Thai investors from using this channel.
