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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 28, 2018 No. 319

About approval of Rules and conditions of recognition of actions of the subject of the security market and other persons as made for the purpose of manipulation in the security market, Rules of creation and work of expert committee, and also its quantitative structure

(as amended on 26-06-2023)

According to the Law of the Republic of Kazakhstan "About the security market" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve:

1) Rules and conditions of recognition of actions of the subject of the security market and other persons as made for the purpose of manipulation in the security market according to appendix 1 to this resolution;

2) Rules of creation and work of expert committee, and also its quantitative structure according to appendix 2 to this resolution.

2. Recognize invalid regulatory legal acts of the Republic of Kazakhstan, and also structural elements of some regulatory legal acts of the Republic of Kazakhstan according to the list according to appendix 3 to this resolution.

3. To department of regulation of the non-bank financial organizations (Kosherbayeva A. M.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal department (Sarsenov N. V.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days from the date of state registration of this resolution its direction in the Kazakh and Russian languages in the Republican state company on the right of economic maintaining "The republican center of legal information" for official publication and inclusion in Reference control bank of regulatory legal acts of the Republic of Kazakhstan;

3) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication;

4) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by subitems 2), 3) of this Item and item 4 of this resolution.

4. To management on consumer protection of financial services and external communications (Terentyev A. L.) provide within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Kurmanov Zh. B.

6. This resolution becomes effective since January 1, 2019 and is subject to official publication.

Chairman of National Bank

D. Akishev

Appendix 1

to the Resolution of Board of National Bank of the Republic of Kazakhstan of December 28, 2018 No. 319

Rules and conditions of recognition of actions of the subject of the security market and other persons as made for the purpose of manipulation in the security market

Chapter 1. General provisions

1. These rules and conditions of recognition of actions of the subject of the security market and other persons as made for the purpose of manipulation in the security market (further – Rules) are developed according to article 56 of the Law of the Republic of Kazakhstan "About the security market" and establish procedure and conditions of recognition of actions of the subject of the security market and other persons as made for the purpose of manipulation in the security market.

2. Actions of the subject of the security market and other persons (including the conclusion of transactions and the announcement of requests in trade system of stock exchange, distribution of information) concerning the securities and (or) derivative financial instruments addressing on platforms of stock exchange which creation and functioning is regulated by internal documents of the exchange are subject to monitoring and the analysis regarding identification of manipulation in the security market.

Chapter 2. Procedure and conditions of recognition of actions of the subject of the security market and other persons as made for the purpose of manipulation in the security market

3. As made for the purpose of manipulation in the security market the following actions are subject to monitoring and the analysis regarding identification of actions of the subject of the security market and other persons (taking into account provisions of item 4 of Rules):

1) the conclusion of the transaction in the organized market of securities based on counter orders (orders) for sale and acquisition of securities of one release given one client through two or more brokers which influenced the essential change in price, demand, the offer or the trading volume on these securities;

2) the conclusion in the organized market of the transaction (series of transactions) with securities and (or) derivative financial instruments as a result of which the price, demand, the offer and (or) the trading volume deviated by securities and (or) derivative financial instruments level and (or) was supported at the level, significantly different from that level which would be created without such transactions;

3) creation of the false and (or) misleading idea of liquidity of security and its price by making of the following actions:

the conclusion certain participants of series of the transactions in trade system of stock exchange with this security which are not making economic sense and (or) not leading to essential change of quantity of securities on accounts of such participants;

and (or) announcements in the organized market of securities of requests for the conclusion of security transactions significantly above or below the previous requests on these securities with their further removal (response) to the conclusion of the transaction;

and (or) announcements in trade system of stock exchange of large number of requests, unreasonable from the point of view of economic sense, for the conclusion of transactions of insignificant amount that is capable to lead to the conclusion of set of the small transactions on amount creating type of activity of the biddings;

and (or) distribution of the doubtful and (or) misleading information concerning this security;

4) distribution by physical and (or) legal entities through mass media of the doubtful and (or) misleading data on securities and (or) transactions with them, their issuers and (or) the prices, including information provided in advertizing as a result of which the price, demand, the offer or the trading volume in trade system of stock exchange with these securities deviated level or were supported at the level, significantly different from that level which would be created without distribution of such data;

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