Cambodia Introduces New Regulatory Framework for Securities Introducing Agents

On 12 May 2026, the Securities and Exchange Regulator of Cambodia (SERC) issued Prakas No. 040 on the Authorisation and Supervision of Securities Introducing Agents, establishing a new regulatory framework for the licensing, supervision and conduct of Securities Introducing Agents (SIAs).

The Prakas introduces a permit regime for both individuals and legal entities acting as SIAs and sets out compliance and supervisory obligations for the securities firms and licensed financial institutions that appoint them.

Key takeaways

• Authorisation required: No person or entity may act as an SIA in Cambodia without a valid SERC permit.
• Eligible applicants: Both individuals and legal entities may apply, subject to applicable governance, compliance, training, examination and continuing education requirements.
• Permitted activities: SIAs may introduce clients to their Parent Companies, promote approved securities products and services, disseminate approved information and provide permitted client support.
• Restrictions: SIAs may not provide investment advice, conduct suitability assessments, open trading accounts, receive client orders, execute transactions, or handle client funds or assets.
• Parent Company responsibility: Securities firms and licensed financial institutions appointing SIAs must supervise their activities, maintain records, submit monthly reports to SERC and provide annual training.
• Permit validity: Initial permits are valid for two years, while renewed permits are valid for three years.

Non-compliance may result in significant penalties, including fines of up to KHR 50 million for individuals and KHR 200 million for legal entities, as well as warnings, restrictions, suspension or revocation of permits.

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