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 (SECC), 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:

• • the reporting obligations;
  • the changes or occurrences which require notification to SERC; and
  • the events or circumstances which require SERC’s prior written approval.

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.