Legal Update: Notification on the Adoption of Prakas No. 063 FSA. BK dated December 11th, 2023 on the Code of Professional Conduct of Trustee
Issue: 004P/24 – 25 January 2024
On January 17 2024, the Securities and Exchange Regulator of Cambodia had issued a notification to the public on the Implementation of Prakas No. 063 FSA.BK dated December 11, 2023 on the Code of Professional Conduct of Trustee issued by the Non-Bank Financial Services Authority for the purpose of maintaining efficiency, transparency, accountability, good order and arrangement in managing business activities of Trustee and relevant person in the sector.
This Prakas stipulates guidelines that Trustee shall comply with in their business operation including general business principal, information of fund management company and collective investment scheme, duty of care, information and reporting obligation to the fund management company, safeguarding of fund assets, protection and management of conflict of interest, honesty and just, resource to be maintained by the Trustee, responsibility of the board of directors and senior officers, legal compliance and penalty.
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 question or need any assistance, please feel free to contact us:
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NOEUM Sokvichhai,
Partner, Managing Director sokvichhai.noeum@sithisak-lawoffice.com +855 12 826 785
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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. |
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TONG Lin,
Senior Legal Advisor, Head of Banking, Finance and Capital Markets tong.lin@sithisak-lawoffice.com +855 98 888 293
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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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