Thai central bank leads funds industry shake-up

Thailand’s central bank will liberalise its currency repatriation rules tomorrow (July 20) to encourage individual investors to remit up to $5 million annually offshore, in the latest in a series of measures by local regulators to break the hold of local banks and their asset management subsidiaries on the local funds market. Late last year, Thailand's Securities and Exchange Commission (SEC) introduced new rules that allow foreign funds to be directly distributed onshore. The Ban…