Rajah & Tann Regional Round-Up
your snapshot of key legal developments in Asia
 Issue 3 - Jul/Aug/Sep 2023
 

Prakas on the Issuance of Fund Units of Collective Investment Scheme

On 20 July 2023, the Non-Banking Financial Services Authority issued Prakas No. 035 on the Issuance of Fund Units of Collective Investment Scheme ("Prakas"). The Prakas is a long-awaited legal instrument under the purview of the Securities and Exchange Regulator of Cambodia to basically kick-off the collective investment scheme ("CIS") market in Cambodia. This development was preceded by the issuance of Prakas No. 003/18 on the Licensing and Management of Collective Investment Scheme Business on 29 May 2018, which governs the licensing of relevant CIS market players and operators.


The Prakas sets out the conditions, requirements, and procedure for the issuance of fund units of CIS, and the operation of such funds thereafter in order to ensure accountability and transparency under the applicable laws and regulations. The key features of the Prakas include the following:


  1. Procedure for the Issuance of Fund Units of CIS;
  2. Operation of CIS Funds;
  3. Termination of Funds; and
  4. Additional Requirements for Public Issuance of Fund Units of CIS.

For more information, click here to read our Legal Update.



Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.

 

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