Financial Crime World

Cambodia’s Financial Regulatory Bodies Step Up to Regulate Securities Market

In a bid to strengthen the country’s securities market, the Securities and Exchange Regulator of Cambodia (SERC) has outlined its organizational structure and functions in a move to enhance regulation and oversight.

Leadership

At the helm of SERC is Director General H.E. Mr. Sou Socheat, who oversees three deputy directors: H.E. Mr. Seang Thirith, H.E. Dr. Vin Pheakdey, and H.E. Mrs. Sok Sokun Chivy. Each deputy director heads a department responsible for different aspects of securities market regulation.

Departments

Department of Administration and Finance

  • Develops budget plans for SERC
  • Handles administrative affairs
  • Supplies and repairs office materials
  • Arranges protocols
  • Communicates with public and private institutions
  • Formulates policies
  • Supervises and recruits staff
  • Develops payroll and allowances
  • Monitors and provides IT services

Department of Securities Market Supervision

  • Formulates conditions for granting approval as operators of securities markets, clearing and settlement facilities, and security depositories
  • Reviews and makes recommendations on applications for approval
  • Conducts surveillance on the operations of these entities

Department of Securities Intermediaries Supervision

  • Has functions similar to those of its counterpart
  • Formulates conditions for granting licenses to securities companies, representatives of securities companies, investment advisors, securities dealers, securities brokers, fund managers, and other market participants
  • Reviews applications for licenses and conducts surveillance on the operations of these entities

Department of Securities Issuance

  • Formulates conditions for granting approval to public issuing companies
  • Examines routine enforcement of conditions relating to governance and supervision
  • Evaluates accounting and auditing standards
  • Reviews and makes recommendations on public offers of securities
  • Registers disclosure documents
  • Monitors and publishes disclosure documents
  • Conducts on-site inspections
  • Examines and makes recommendations on operating rules for operators of securities markets, clearing and settlement facilities, and security depositories
  • Arranges necessary rules and regulations
  • Enforces the implementation of laws and regulations
  • Receives lawsuits related to illegal or abnormal issuing and trading securities
  • Investigates and takes fine measures against individuals who contravene laws and regulations

Department of Research, Training, Securities Market Development

  • Conducts studies on strategies for developing the securities market in Cambodia
  • Researches development of legal infrastructure
  • Formulates strategies to promote companies going public
  • Evaluates new financial instruments prior to introducing them to the market
  • Communicates with regulators regionally and internationally

These departments work together under the guidance of SERC’s leadership to ensure a strong and stable securities market in Cambodia.