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

of August 5, 2009 No. 191

About approval of Rules of implementation of custodial activities in the security market

1. Approve the enclosed Rules of implementation of custodial activities in the security market.

2. Recognize invalid regulatory legal acts according to appendix to this resolution.

3. This resolution becomes effective after fourteen calendar days from the date of its state registration in the Ministry of Justice of the Republic of Kazakhstan.

4. To the organizations performing custodial activities in the security market to bring the internal documents into accord with requirements of this resolution in two-month time from the date of introduction it in action.

5. To department of supervision of subjects of the security market and accumulation pension funds (Hadzhiyeva M. Zh.):

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

2) in ten-day time from the date of state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan to bring it to the attention of the interested divisions of the Agency, Consolidation of legal entities "The association of financiers of Kazakhstan" and National Bank of the Republic of Kazakhstan.

6. To service of the Chairman of the Agency (Kenzhe A. A.) take measures for publication of this resolution in mass media of the Republic of Kazakhstan.

7. To impose control of execution of this resolution on the vice-chairman of the Agency Aldambergen A. U.

Approved by the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of August 5, 2009 No. 191

Rules of implementation of custodial activities in the security market

Chapter 1. General provisions

1. Action of these rules extends to the banks performing custodial activities based on the license for implementation of custodial activities or according to legal acts of the Republic of Kazakhstan (further - custodian).

2. In the part which is not settled by the legislation of the Republic of Kazakhstan, custodial activities are performed according to internal documents of custodian and the custodial agreement signed with the client if they do not contradict the legislation existing in the territory of the Republic of Kazakhstan.

3. The custodian is not affiliirovanny face of the client, except as specified, specified in Item 3 of article 73 of the Law and in Item 3 of article 9 of the Law on investment funds.

The requirement established by part one of Item 3 of these rules does not extend to National Bank of the Republic of Kazakhstan.

4. In the premises of head office of custodian and its branches performing custodial activities in places, readily available for clients, notarially attested copies of the license for implementation of custodial activities are placed.

5. The custodian on the first demand of clients represents to them for acquaintance:

1) copies of these rules and other regulatory legal acts of the state body exercising regulation and supervision of the financial market and the financial organizations (further - authorized body) regulating implementation of custodial activities;

2) copies of the internal documents signed by the first head of custodian or person replacing it, and certified by impress of a seal of custodian;

3) financial reporting of custodian;

4) data on observance of prudential standard rates;

5) data on limited corrective actions and sanctions, except for the administrative punishments applied by authorized body to this broker and (or) the dealer within the last twelve months. According to sanctions in the form of administrative punishment the information on imposing of administrative punishment on this broker and (or) the dealer or his officials for the last twelve months from the date of the end of execution of the resolution on imposing of administrative punishment is provided.

6. For provision to clients of copies of the documents specified in Item 5 of these rules, the custodian levies payment in the amount of, not exceeding the size of expenses on their production (forming).

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