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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of July 16, 2014 No. 137

About approval of the Accounting standard 33 "Accounting and disclosure of information on transactions on broker activities"

(as amended on 22-11-2021)

According to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of February 28, 2007 "About financial accounting and the financial reporting" and for the purpose of enhancement of financial accounting in the organizations performing broker activities in the security market, the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Accounting standard 33 "Accounting and disclosure of information on transactions on broker activities".

2. Declare invalid the resolution of Board of National Bank of the Republic of Kazakhstan of August 26, 2011 No. 108 "About approval of the Accounting standard 33 "Accounting and the disclosure of information on transactions on broker activities" (registered in the Register of state registration of regulatory legal acts at No. 7236, published on November 1, 2011 in the Yuridicheskaya Gazeta newspaper No. 159 (2149).

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

Chairman of National Bank

K. Kelimbetov

It is approved

Ministry of Finance of the Republic of Kazakhstan

August 15, 2014

 

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of July 16, 2014, No. 137

Accounting standard 33 "Accounting and disclosure of information on transactions on broker activities"

Chapter 1. Purpose and coverage

1. This Accounting standard 33 "Accounting and disclosure of information on transactions on broker activities" (further - the Standard) is developed according to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of February 28, 2007 "About financial accounting and the financial reporting", Rules of implementation of broker and (or) dealer activities in the security market, procedure for carrying out by the broker and (or) the dealer of banking activities approved by the resolution of Board of National Bank of the Republic of Kazakhstan of February 3, 2014 No. 9 "About approval of Rules of implementation of broker and (or) dealer activities in the security market, procedure for carrying out by the broker and (or) dealer of banking activities" (it is registered in the Register of state registration of regulatory legal acts at No. 9249), and it is intended for application by the organization, performing broker activities in the security market, (further - the broker) in case of financial reporting preparation.

2. The purpose of the Standard is determination of features of financial accounting and submission of information on the broker activities which are subject to disclosure in the financial reporting by the broker.

3. The standard considers the questions which are not settled by international accounting standards and not contradicting them.

4. The standard does not extend to the banks of the second level, branches of nonresident banks of the Republic of Kazakhstan having the license for implementation of broker and dealer activities.

5. Relevant international standards of the financial reporting are applied to accounting and creation by the broker of the reporting under portfolio of own means.

Chapter 2. The concepts used in the Standard

6. For the purposes of the Standard the following concepts are used:

1) balance sheet accounts - the accounts provided by paragraphs with 1 on 7 Chapters 2 of the Standard chart of accounts of financial accounting for certain subjects of the financial market of the Republic of Kazakhstan approved by the resolution of Board of National Bank of the Republic of Kazakhstan of September 22, 2008 No. 79 "About approval of the Standard chart of accounts of financial accounting for certain subjects of the financial market of the Republic of Kazakhstan" (registered in the Register of state registration of regulatory legal acts at No. 5348);

2) the commission income (expenses) of the broker - the remuneration (expenses) levied (suffered) by the broker from rendering services in broker activities;

3) portfolio of own means of the broker - the money, securities and other financial instruments acquired by the broker in the interests and at the expense of own means.

Chapter 3. Accounting and initial recognition

7. Accounting by the broker of committed security transactions and other financial instruments, and also the money belonging to clients is conducted on off-balance accounts without reflection on balance sheet accounts, except as specified recognitions of the money accepted from the client as asset in own balance sheet of the broker according to Item 8 of the Standard.

8. Recognition criteria of the money accepted from the client as asset in own balance sheet of the broker are:

1) availability at the broker of the right to implementation of the transaction with the client's assets at own discretion based on the decision made according to internal documents of the broker without receipt of written and (or) oral assent (order) of the client;

2) right availability at the broker on receipt of the economic benefits depending on outcome of the bargain concluded with the client's assets (except for the commission income of the broker);

3) availability of the risks at the broker connected with implementation of professional activity in the security market, during the course of performance terms of the contract about rendering broker services in the client's assets.

If in accordance with the terms of the agreement on rendering broker services recognition criteria of the money accepted from the client, as asset, in own balance sheet of the broker, provided by part one of this Item are carried out in total, then the money accepted from the client is reflected in balance sheet accounts and is recognized own balance sheet of the broker as own assets.

If in accordance with the terms of the agreement on rendering broker services recognition criteria of the money accepted from the client, as asset, in own balance sheet of the broker, provided by part one of this Item are not carried out in total, then the money accepted from the client is not reflected in balance sheet accounts and is not recognized own balance sheet of the broker as own assets.

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