Background
On 20 March 2026, the Securities and Exchange Regulator of Cambodia (SERC) held a working group meeting under the leadership of H.E. Dr. Vin Pheakdey, Deputy Director General and Chair of the FinTech Working Group. The meeting was convened with guidance from H.E. Sou Socheat, Delegate of the Royal Government in charge as Director General of SERC. The Director of the Securities Intermediaries Supervision Department, Mr. Khun Kimleang, also participated.
The meeting focused on the preparation of a blacklist in the securities sector as part of SERC’s ongoing efforts to strengthen the management and supervision of companies conducting business in the securities industry.
Scope of Application
The planned blacklist is intended for use within the securities sector overseen by SERC. It is aimed at supporting the management and supervisory functions applied to regulated business entities operating under SERC’s jurisdiction. The discussion related to entities conducting business in the securities sector, particularly those subject to oversight by the Securities Intermediaries Supervision Department and relevant working groups.
Key Provisions or Decisions
The meeting discussed the conceptual and practical preparation of a blacklist for the securities sector. While no specific operational criteria or procedures were detailed in the source, the following points were highlighted:
- Agreement to prepare a blacklist to support management and supervision of companies doing business in the securities sector.
- Direction from H.E. Dr. Vin Pheakdey to ensure that the prepared list is comprehensive and can be effectively applied.
- Provision of guidance and directional recommendations to several working group members to refine the content and structure of the blacklist.
The meeting was reported as being conducted smoothly and described as fruitful, indicating progress in the internal design of the blacklist framework.
Implications for Investors, Businesses, or Compliance
Once developed and implemented, the blacklist framework is expected to become a supervisory tool for SERC in managing and overseeing regulated business entities in the securities sector. It signals SERC’s intention to formalize mechanisms for identifying and listing certain entities for supervisory purposes.
Although specific criteria, procedures, and legal effects of inclusion on the blacklist were not described, market participants and regulated entities may need to monitor future SERC communications for detailed guidance, compliance expectations, and any formal regulatory instruments that may operationalize the blacklist.
Official Source
The information is based on an official communication from the Securities and Exchange Regulator of Cambodia (SERC), published via its official Facebook page on 21 March 2026.
