On 20 December 2023, the Non-Banking Financial Services Authority issued a new Prakas No. 067 on Trustees’ Obligations to Report, Notify, and Request for Approval (“Prakas“). This Prakas comprises 7 chapters with 27 articles which apply to all licensed/permitted trustees in the Kingdom of Cambodia. The purpose of the Prakas is to specify the obligations of trustees in relation to reporting, notifying, and seeking approval from the Trust Regulator to facilitate monitoring for effective, transparent, and accountable execution of trustee obligations.
This Update highlights the key features of the Prakas.
For more information, click here to read the full Legal Update.
