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Kingdom joins ASEAN securities plan
Tue, 16 March 2021
The newly-renamed Securities and Exchange Regulator of Cambodia (SERC) and its nine capital-market-regulator counterparts in ASEAN on March 15 signed a new five-year Action Plan 2021-2025 for the development of the sector.
The plan was signed during the 34th ASEAN Capital Markets Forum (ACMF) hosted via video link by Bruneian central bank Monetary Authority of Brunei Darussalam, which also regulates capital markets in the small country on the island of Borneo, ACMF said in a press release.
“The action plan builds on ACMF Action Plan 2016-2020, and was developed with feedback from capital market participants and other stakeholders to ensure [its inclusivity and relevance], particularly amid the new normal.
The Securities and Exchange Regulator of Cambodia and Cambodia Securities Exchange (CSX) have vowed to use an online system to facilitate business transactions as well as to keep the market afloat amidst economic uncertainty brought about by the Covid-19 pandemic.
Sou Socheat, director-general of the regulator, which recently changed its name from the Securities and Exchange Commission of Cambodia (SECC), told The Post on March 11 the regulator is optimistic about adopting a digital platform to facilitate internal and external workflows.
“We set up the online mechanism in April 2020 and are continuing to use it internally and with relevant stakeholders in order to manage a smooth” transition when the time comes to officially adopt it, he said.