THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND DEVELOPMENT OF THE FINANCIAL MARKET

of March 30, 2020 No. 40

About approval of Rules of issue, suspension and deprivation of licenses for implementation of types of professional activity in the security market

1. Approve the enclosed Rules of issue, suspension and deprivation of licenses for implementation of types of professional activity in the security market.

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

3. To provide to department of the security market in the procedure established by the legislation of the Republic of Kazakhstan:

1) together with Legal department state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this resolution on official Internet resource of the Agency of the Republic of Kazakhstan on regulation and development of the financial market after its official publication;

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

4. To management of the international relations and external communications to 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 supervising vice-chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market.

6. This resolution becomes effective after twenty one calendar days after day of its first official publication.

Approved by the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of March 30, 2020 No. 40

Rules of issue, suspension and deprivation of licenses for implementation of types of professional activity in the security market

Chapter 1. General provisions

1-1. Information on the made changes and (or) additions in Rules within 3 (three) working days after state registration in judicial authorities of the corresponding regulatory legal act is placed on official Internet resource of authorized body, goes to the operator of information and communication infrastructure of "the electronic government" and to Single contact center.

1-2. Information on stage of rendering the state service is updated in the automatic mode in information system of monitoring of rendering the state services.

2. The concepts used in Rules are applied in the values specified in the Law on banks, the Law on insurance activity, the Law on permissions and notifications, the Law of the Republic of Kazakhstan of January 7, 2003 "About the electronic document and the digital signature", the Law on the state services and the Law.

3. For receipt of the license the applicant shall conform to the following qualification requirements:

1) availability of the business plan approved by governing body of the applicant for the next 3 (three) years. The following questions shall be reflected in the business plan:

purposes of receipt of the license;

the description of the main activities and the overview of segment of the market to which the applicant is oriented;

information on expected services within activities, procedure for their assessment, and also plans under the terms and to amount of their sale;

information on the main risks connected with activities, methods of their assessment and compensation for the account of equity, value of sufficiency of equity, procedures of risk management and internal control;

the financial plan, including the forecast of the income and expenses for the first 3 (three) financial (operational) years, admissible coefficients of unprofitability for the specified period;

investment policy, sources of financing of activities of the company;

organizational structure of the applicant, including investment committee and service of internal audit, the description of methods of implementation of procedures of corporate management, and also the requirement to the education level of specialists;

2) availability of the program technical means and other equipment necessary for implementation of activities in the security market, according to regulatory legal acts of authorized body;

3) availability of the organizational structure conforming to the requirements established by the Law and regulatory legal acts of authorized body.

3-1. The documents of the applicant provided in foreign language are translated into the Kazakh and (or) Russian languages and are provided in authorized body notarially attested according to article 80 of the Law of the Republic of Kazakhstan of July 14, 1997 "About notariate".

Chapter 2. Procedure and conditions of issue, renewal and issue of the duplicate of licenses

4. The applicant provides in authorized body the statement for licensing (further – the statement) in form according to appendix 1 to Rules in electronic form through the web portal of "the electronic government" www.egov.kz (further – the portal).

The list of the main requirements to rendering the state service "Licensing for Implementation of Activities in the Security Market" including the list of the documents necessary for rendering the state service, the bases for refusal in rendering the state service, the characteristic of process, form, content and result of rendering, and also other data taking into account features of provision of the state service and the term of rendering the state service are provided in the list of the main requirements to rendering the state service "Licensing for Implementation of Activities in the Security Market" (further – the List), according to appendix 3 to Rules.

In case of the direction of the statement through the portal in "private office" of the applicant the status about acceptance of request for rendering the state service with indication of date and time of receipt of result is automatically displayed.

5. The authorized body receives from the corresponding state information systems through lock of "the electronic government" of the data, specified in documents:

proving the identity of the physical person - the resident of the Republic of Kazakhstan;

confirming absence at the physical person - the resident of the Republic of Kazakhstan of not removed or unspent conviction;

about state registration (re-registration) of legal resident person of the Republic of Kazakhstan.

6. The authorized body grants the license in form according to appendix 4 to Rules and records the licenses granted by it.

7. No. 61 is excluded according to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of 26.06.2023

8. The decision on issue of licenses is drawn up by the warrant of surrender of the license for implementation of types of professional activity in the security market (further - the order) the official of authorized body who becomes effective from the date of its signing.

9. Renewal of the license is made on the bases and according to the procedure, the established Law on permissions and notifications.

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