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

of October 20, 2022 No. 75

About approval of Rules and conditions of recognition by the organizations performing broker and (or) dealer activities in the security market, physical persons by skilled investors and also features of rendering by the organizations performing broker and (or) dealer activities in the security market, services to the physical persons which are not skilled investors

According to Item 1-1 of article 5-1 of the Law of the Republic of Kazakhstan "About the security market" Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Approve Rules and conditions of recognition by the organizations performing broker and (or) dealer activities in the security market, physical persons by skilled investors and also features of rendering by the organizations performing broker and (or) dealer activities in the security market, services to the physical persons which are not skilled investors according to appendix 1 to this resolution.

2. Recognize invalid regulatory legal acts of the Republic of Kazakhstan, and also structural elements of regulatory legal acts of the Republic of Kazakhstan according to the list according to appendix 2 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 action provided by the subitem 2) of this Item.

4. 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.

5. This resolution becomes effective after ten calendar days after day of its first official publication.

The chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market

M. Abylkasymova

Appendix 1

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of October 20, 2022 No. 75

Rules and conditions of recognition by the organizations performing broker and (or) dealer activities in the security market, physical persons by skilled investors and also features of rendering by the organizations performing broker and (or) dealer activities in the security market, services to the physical persons which are not skilled investors

Chapter 1. General provisions

1. These rules and conditions of recognition by the organizations performing broker and (or) dealer activities in the security market (further – brokers and (or) dealers), physical persons skilled investors, and also features of rendering by brokers and (or) dealers of services to the physical persons which are not skilled investors (further – Rules), are developed according to article 5-1 of the Law of the Republic of Kazakhstan "About the security market" and determine procedure and conditions of recognition by brokers and (or) dealers of physical persons by skilled investors, and also features of rendering by brokers and (or) dealers of services to the physical persons which are not skilled investors.

2. Recognition by the skilled investor is performed by the broker and (or) the dealer performing activities based on the corresponding license of authorized body on regulation, control and supervision of the financial market and the financial organizations (further – authorized body).

Chapter 2. Procedure and conditions of recognition by the broker and (or) dealer of physical person by the skilled investor

3. The physical person is recognized the skilled investor on condition of its compliance to one or several of the following requirements:

1) has the higher financial, economic, mathematical education or the higher education in the field of information technologies;

At least one of the following international certificates has 2): the certificate of "Chartered Financial Analyst" (Charteed Faynanshl Analist), the certificate of "Certified International Investment Analyst" (Sertifayd International the Investment cop Analist), the certificate of "Financial Risk Manager" (Faynanshl Risk Manager), and also other certificates confirming qualification availability in the field of the financial market;

3) at least three years in the spheres which are directly connected with the conclusion of transactions with financial instruments, preparation of investment recommendations, adoption of investment decisions, and (or) in the sphere of risk management, connected with making of financial instrument transactions have working life;

4) availability of financial assets on the amount exceeding 8 500 (eight thousand five hundred) monthly settlement indicators;

5) at least fifty security transactions and (or) other financial instruments made in the organized market of securities and other stock exchanges within twelve consecutive months preceding date of filing of application about recognition by the skilled investor.

4. The physical person having intention to be acknowledged skilled investor provides to the broker and (or) the dealer the following documents:

1) the statement which contains:

information about the applicant:

surname, name, middle name (in case of its availability);

name and details of the identity document;

specifying of the list of types of service and (or) types of securities and (or) other financial instruments concerning which person intends to be the acknowledged skilled investor;

2) the documents confirming compliance to requirements, stipulated in Item 3 Rules, or the positive result of testing determined according to requirements of Item 11 of Rules.

5. The broker and (or) the dealer in time no more than seven working days from the date of provision by the applicant of data performs their check regarding observance of requirements, stipulated in Item 3 Rules, compliance to which is necessary for recognition of person by the skilled investor, and in case of discrepancy of the applicant to qualifying standards in writing notifies him on the refusal bases.

6. The decision on recognition of physical person by the skilled investor contains specifying of types of securities and other financial instruments concerning which this person is recognized as the skilled investor.

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