Legal and Tax Updates

Issue: No. 009P/24 – 23 April 2024

On April 12^th, 2024, the Securities and Exchange Regulator of Cambodia (SERC) had issued a notification to the public on the implementation of Prakas No. 027 dated April 05^th, 2024 on the requirements for financial soundness of company operating collective investment scheme business issued by the Non-Bank Financial Services Authority for the purpose of managing and monitoring the financial soundness of the Fund Management company, Fund Custodian Company, Fund Distributor Company, and Fund Administrator Company with efficiency, transparency, accountability, good order and arrangement.

This Prakas No. 027 stipulates requirements and procedure for monitoring the financial soundness and defines obligations of licensed and authorized Fund Management Company, Fund Custodian Company, Fund Distributor Company, and Fund Administrator Company from SERC to ensure that the management and monitoring of financial soundness of the company has the efficiency, transparency, accountability, good order and arrangement.

We hope that the above legal update is helpful for your investment and help you to invest more confidently.

Disclaimer

The article is merely for general information purposes. It does not constitute a legal advice on the subject matter. If you have any questions or need any assistance, please feel free to contact us:

	NOEUM Sokvichhai, Partner, Managing Director sokvichhai.noeum@sithisak-lawoffice.com +855 12 826 785	Mr. Sokvichhai has more than 8 years of experiences in labour, corporate, commercial and investment advisory in Cambodia. He actively advices and assists various businesses in commercial, tax, and labour registration, business licensing, products registration & distribution, business recapitalization & restructuring, and mergers & acquisitions transaction. He also has particular experiences in advising collective investment fund and trust business, initial public offering, bond issuance, investment incentives & qualified investment project, and labour & employment related issues. Sokvichhai also assists major business in preparing various complex commercial agreements.
	TONG Lin, Senior Legal Advisor, Head of Banking, Finance and Capital Markets tong.lin@sithisak-lawoffice.com +855 98 888 293	With the experience in the legal field for over five years, Lin’s practices concentrate on corporate, commercial, banking and capital markets related matters. At the present, Lin is actively providing legal services to local and international financial institutions including providing legal advice, preparing related financing documents, security documents and other legal matters. He is also advising to several renown enterprises with regard to their proposed equity and debt securities, public funds issuance under collective investment scheme, and trust.

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