Thailand's Securities and Exchange Commission (SEC) is restructuring annual licensing fees for securities and futures businesses, effective January 1, 2027. Key changes include doubling investment advisor fees from 25,000 to 50,000 baht annually, introducing a new 50,000 baht annual fee for futures traders, and expanding the calculation base for other business types. The SEC aims to align fees with operational costs and reduce disparities across market participants. This is significant for SMEs and fintech firms operating in Thailand's capital markets—compliance costs will rise materially, particularly for smaller advisory firms and new entrants in the futures trading space.