Rajah & Tann Regional Round-Up
your snapshot of key legal developments in Asia
 Issue 1 - Jan/Feb/Mar 2021
 

SERC Issues Prakas on Reporting Obligations and Request for Approval of Central Counterparties and Derivatives Brokers

On 18 January 2021, the Securities and Exchange Regulator of Cambodia ("SERC"), previously known as the Securities and Exchange Commission of Cambodia, issued a new Prakas No. 001/21 SECC/P on the Obligations to Provide Reports, Notify, and Request for Approval of Central Counterparties and Derivatives Brokers ("New Prakas").


The New Prakas sets out the following obligations of central counterparties and derivatives brokers in accordance with the Law on the Issuance and Trading of Non-Government Securities and the Sub-Decree in relation to this, as well as relevant regulations:


  1. the reporting obligations;
  2. notifying SERC of relevant changes or occurrences within the organisation; and
  3. seeking SERC's written approval before undertaking specified events or activities.

The New Prakas is issued to monitor and supervise the central counterparties' and derivative brokers' observance and compliance with such obligations and to ensure transparency, accountability, and good order among the stakeholders. The New Prakas applies to the central counterparties and derivatives brokers who have obtained licences/permits from SERC.


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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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