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The Law on Organization and Functioning of Non-Banking Financial Services Authority ("Law") was promulgated on 16 January 2021.
The Non-Banking Financial Services Authority (Authority) has been established to be independent in performing its functions by integrating the mechanisms of management and control over the non-banking financial sector.
Subordinated Entities of the Authority are as follows:
General Secretariat
The General Secretariat performs the functions as executive body of the Authority.
Cambodia Insurance Regulator
The Cambodian Insurance Regulator shall execute the competency of the Ministry of Economy and Finance as stated in the Insurance Law promulgated by Royal Kram No. NS/RKM/0814/021 dated 4 August 2014 and other regulations in the insurance sector.
Securities Regulator of Cambodia
The Securities and Exchange Commission of Cambodia has been transformed into the Securities Regulator of Cambodia in accordance with the provisions of this law. The Securities Regulator of Cambodia shall perform the functions of the Securities and Exchange Commission of Cambodia as stated in the Law on the Issuance and Trading of Public Securities promulgated by Royal Kram No. NS/RKM/1007/028 dated 19 October 2007 and other relevant regulations in the securities sector.
Social Security Regulator
The General Secretariat of the National Council for Social Protection shall fulfill its additional role as a social security regulator in accordance with the provisions of this law. The Social Security Regulator shall perform the roles and responsibilities as stated in the Law on the Social Security Regime promulgated by Royal Kram No. NS/RKM/1119/018 dated 2 November 2019 and other relevant regulations in social security sector.
Trust Regulator
The Trust Regulator shall execute the competency of the Ministry of Economy and Finance as stated in the Trust Law Promulgated by Royal Kram No. NS/RKM/0119/002 dated 2 January 2019 and related regulations in the trust sector.
Accounting and Auditing Regulators
The National Accounting Council has been transformed into an accounting and auditing body in accordance with the provisions of this law. The Accounting and Auditing Regulator shall perform the functions and duties of the National Accounting Council as stated in the Law on Accounting and Auditing promulgated by Royal Kram No. NS/RKM/0416/006 dated 11 April 2016 and other relevant regulations in the accounting and auditing sector.
Real Estate and Pawn regulator
Real estate and mortgage business regulators shall perform the roles and responsibilities as defined in Article 5 of the Law on Finance for Management 2007 promulgated by Royal Kram No. NS/RKM/1206/035 dated 29 December 2006 and other relevant regulations in the real estate, mortgage and title transfer sector.
Advance Grand Formula Co., Ltd is licensed audit firm from Accounting and Auditing Regulator (ACAR Decision N0. 014), member audit firm of Kampuchea Institute of Certified Public Accountants and Auditors (license number C-00085) and tax agent from General Department of Taxation (license number TA202204002).
This Publication is intended for general guidance only and should not form the basic of specific decisions.
Should you need any further information or support, please contact us at: accounting@advancegroupkh.com (accounting), audit@advancegroupkh.com (audit), tax@advancegroupkh.com (tax) and number and telegram 085 36 8888 and 070 399 888.
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