Article 12. Committee of the Center for Financial Services Regulation of the Constitutional Law of the Republic of Kazakhstan On the Astana International Financial Center

     1. The Financial Services Regulatory Committee of the Center is a legal entity responsible for regulating financial services and related activities at the Center.

     2. The Committee has its own budget, formed from the funds of the republican budget in the form of a targeted transfer in accordance with the budget legislation of the Republic of Kazakhstan, as well as fees and payments made by the participants of the Center.

     2-1. The targeted transfer received by the Committee from the budget through the administration of the Center in accordance with paragraph 2 of this Article shall be used for the purposes of ensuring and financing the activities of the Committee.

     3. Committee of the Center for Regulation of Financial Services:

     1) develops draft acts of the Center's bodies concerning the regulation of financial services and related activities in the Center, submits them for public discussion and submits them for adoption to the body responsible for the adoption of the relevant acts of the Center;

     2) adopt acts in the form of regulatory provisions on issues related to the regulation of financial services and related activities in the Center;

     3) carries out registration, accreditation and licensing of the Center's participants;

     4) maintains a register of the Center's participants;

     5) protects the rights of consumers, controls and supervises the activities of the Center's participants, and takes measures against them;

     5-1) develops acts in the field of countering the legalization (laundering) of proceeds from crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction, submits them for public discussion and adopts them, as well as monitors and supervises their compliance by the participants of the Center;

     6) has other powers determined by the resolutions of the Council.

Constitutional Law of the Republic of Kazakhstan dated December 7, 2015 No. 438-V SAM.

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Republic of Kazakhstan     

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