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

According to the laws of the Republic of Kazakhstan of July 2, 2003 "About the security market", of July 4, 2003 "About state regulation, control and supervision of the financial market and the financial organizations", of April 15, 2013 "About the state services", of May 16, 2014 "About permissions and notifications" Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial 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. These rules of issue, suspension and deprivation of licenses for implementation of types of professional activity in the security market (further - Rules) are developed according to Articles 66 and 73 of the Administrative procedural Procedure Code of the Republic of Kazakhstan, the subitem 10) of Item 2 of Article 3 and Item 1 of article 50 of the Law of the Republic of Kazakhstan "About the security market" (further - the Law), the laws of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks), "About insurance activity" (further - the Law on insurance activity), "About state regulation, control and supervision of the financial market and the financial organizations", "About the state services" (further – the Law on the state services), "About provision of pensions in the Republic of Kazakhstan" (further - the Law on provision of pensions), "About permissions and notifications" (further - the Law on permissions and notifications) conditions and procedure for issue, suspension and deprivation by authorized body on regulation, control and supervision of the financial market and the financial organizations (further - authorized body) licenses for implementation of types of professional activity in the security market also determine (further - the license).

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 appendices 1, 2 to Rules in electronic form through the web portal of "the electronic government" www.egov.kz (further - the portal).

The list of the documents necessary for rendering the state service, the bases for refusal in rendering the state service, the main requirements to rendering to the state service "Licensing for Implementation of Activities in the Security Market" (further - the state service) including characteristics 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 standard of the state service "Licensing for Implementation of Activities in the Security Market" (further - the standard), according to appendix 3 to Rules.

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