Background
On 19 March 2026, the Trust Regulator participated in a meeting organized by the Ministry of Economy and Finance (MEF) to review a draft prakas on the establishment of a legal reform working group of the MEF. The meeting was held under the high presidency of H.E. SEANG Phalla, Undersecretary of State of the MEF and Chief of the Legal Council Secretariat.
Ms. CHHEAN Sokhary, Director of the Department of Legal Affairs and Inspection of the Trust Regulator, attended the meeting with colleagues, with authorization from H.E. SOK Dara, Director General of the Trust Regulator. Representatives from all subordinate units of the MEF and from regulators and subordinate units of the Non-Bank Financial Services Authority (FSA) also took part.
Scope of Application
The draft prakas concerns the establishment of a legal reform working group within the Ministry of Economy and Finance. Its scope relates to laws and regulations under the authority of the MEF and the Non-Bank Financial Services Authority. The working group is intended to support the review and reform of these legal instruments and related normative acts.
Key Provisions or Decisions
The meeting focused on reviewing and discussing the draft prakas that would create the MEF legal reform working group. Participants discussed arrangements for legal reform of laws and regulations under MEF and FSA competence, with the objective of fostering common understanding and interpretation of these legal texts.
The session also addressed the preparation and planning for implementing systems to collect legal data and normative acts within the mandates of the MEF and the FSA. The discussion aimed to ensure coherent, peaceful, and harmonious application of laws and regulations across the relevant institutions.
Implications for Investors, Businesses, or Compliance
While the draft prakas has not yet been adopted, the establishment of a legal reform working group at the MEF signals a structured effort to review and organize laws and regulations under MEF and FSA authority. Over time, this may lead to clearer interpretation and more consistent application of financial and economic regulations, including those affecting non-bank financial services and trust-related activities.
Investors and regulated entities may expect future initiatives to systematize legal data and normative acts, which could improve transparency and predictability of the regulatory framework. However, specific compliance obligations will depend on the final adopted prakas and any subsequent implementing measures.
Official Source
The information is based on an official communication from the Trust Regulator regarding its participation in the MEF meeting on the draft prakas establishing a legal reform working group.
