Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of February 3, 2014 No. 10

About approval of Rules of implementation of activities for management of investment portfolio

(The last edition from 29-10-2018)

According to the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve Rules of implementation of activities for management of investment portfolio.

2. Recognize invalid regulatory legal acts of the Republic of Kazakhstan according to appendix to this resolution.

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

Chairman of National Bank

K. Kelimbetov

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of February 3, 2014 No. 10

Rules of implementation of activities for management of investment portfolio

Chapter 1. General provisions

These rules of implementation of activities for management of investment portfolio (further - Rules) are developed according to the Civil code of the Republic of Kazakhstan (Special part) of July 1, 1999, the laws of the Republic of Kazakhstan of December 18, 2000 "About insurance activity", of July 2, 2003 "About the security market" (further - the Law on the security market), of July 4, 2003 "About state regulation, control and supervision of the financial market and the financial organizations", of July 7, 2004 "About investment and venture funds" (further - the Law on investment funds), of February 20, 2006 "About project financing and securitization" (further - the Law on securitization), establish conditions and procedure of activities for management of investment portfolio in the Republic of Kazakhstan.

Action of Rules extends on:

the organizations performing based on the license of authorized body activities for management of investment portfolio without the right of attraction of voluntary pension contributions;

the organizations performing based on the license of authorized body activities for management of investment portfolio with the right of attraction of voluntary pension contributions when implementing by them of activities for management of the investment portfolio built not at the expense of pension assets;

the insurance companies performing activities in the industries "life insurance" having the license of authorized body for implementation of activities for management of investment portfolio in the security market in the part which is not contradicting the legislation of the Republic of Kazakhstan on insurance and insurance activity.

1. In Rules the following concepts are used:

1) special finance company - the legal entity created according to the Law on securitization for implementation of transactions of project financing and securitization for benefit of which rights to claim are yielded;

2) the investment declaration - the document determining the list of investment objects, the purposes, strategy, conditions and restrictions of investing activities on assets of the client, condition of hedging and asset diversification;

3) investment portfolio - the set of different types of financial instruments or other property which is in property or management of the managing director of investment portfolio;

4) the managing director of investment portfolio - the professional participant of the security market performing on its own behalf in interests and for customer account activities for management of objects of the civil laws;

5) the agreement on management of investment portfolio - the agreement according to which the client gives to the managing director of investment portfolio property to investment management and the managing director of investment portfolio shall exercise control of this property for the benefit of the client;

6) system of accounting of the managing director of investment portfolio - set of the data containing on investment customer accounts of the managing director of investment portfolio which provide identification of the client and his assets, structure of investment portfolio and transactions with the client's assets on certain timepoint;

7) the investment decision - the decision of the managing director of investment portfolio on transactions with the client's assets accepted in process of management of its assets;

8) the client - person using or intended to use services of the managing director of investment portfolio, and also investment fund which assets are in management at the managing director of investment portfolio;

9) the client's assets - set of the assets which are in management at the managing director of investment portfolio;

10) conflict of interest - situation in case of which interests of the managing director of investment portfolio and its client (clients) do not match among themselves;

11) authorized body - the state body performing regulation, control and supervision of the financial market and the financial organizations;

12) internal documents - documents which regulate conditions and procedure for activities of the managing director of investment portfolio, its bodies, structural divisions (branches, representations), workers, rendering services and procedure for their payment.

2. Activities for management of investment portfolio in the part which is not settled by Rules are performed according to the internal documents of the managing director of investment portfolio concluded between managing investment portfolio and its clients agreements on management of investment portfolio.

2-1. The insurance company which is performing activities in industry "life insurance", having the corresponding license of authorized body performs activities for management of investment portfolio concerning assets:

the insurance premiums created at the expense of part got from insurers for the purposes of investment according to the insurance contracts providing condition of participation of the insurer in investments, and income (losses) gained from their investment;

the mutual investment fund managed by it created for investment of the assets created at the expense of part of the insurance premiums got from insurers according to the insurance contracts providing condition of participation of the insurer in investments, and the income (losses) from their investment.

Features of implementation of activities for management of investment portfolio of the insurance companies performing activities in industry "life insurance" are established by the legislation of the Republic of Kazakhstan on insurance and insurance activity.

3. The retrust to other managing director of investment portfolio is not allowed by managing investment portfolio of activities for management of investment portfolio if other is not provided by legal acts of the Republic of Kazakhstan and (or) the agreement on management of investment portfolio.

Full text available with active License only!

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 38000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.