The Securities Exchange Commission of Cambodia suspended 5 trading firms

Cambodia stock exchange

After the government has been granting license to local domestic trading firms to run its business of stock market in Cambodia, recently, the Securities Exchange Commission of Cambodia – SECC- halted temporarily five domestic trading firms because of lack of the necessary regulatory framework.

According to the SECC issued announcement on March 1, there are five domestic trading companies to be suspended, named as Gold Financial Comprehensive, First State Gold Investment companionship, Comprehensive Gold and Forex Investment Consultant Companionship, CMDK Gold Companionship and International Gold Market Companionship.

The SECC have main role in cooperating with all trading firms in order to prepare the necessary regulatory.

Ming Bankosal, SECC director, said that Cambodian companies offering derivatives trading had operated without the necessary regulatory framework being in place, according to the Post.

He added that “we had not prepared any regulatory or policy to manage them [firms trading in derivatives] and it is not the priority for us – we want the public to know the stock exchange first, then we will think about preparation of regulations for derivative products.”

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