Article 12. Features of State regulation, control and supervision of the activities of subjects of the securities market and Other Financial Instruments of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

Home / RLA / Article 12. Features of State regulation, control and supervision of the activities of subjects of the securities market and Other Financial Instruments of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

Article 12. Features of State regulation, control and supervision of the activities of subjects of the securities market and Other Financial Instruments of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

In order to implement state regulation, control and supervision of the activities of subjects of the securities market and other financial instruments, the authorized body:

1) recognizes financial market assets as securities;

1-1) monitors issuers of non-governmental equity securities;

2) carries out state registration of issues of non-governmental equity securities, Islamic securities, and derivative securities;

reviews and approves reports on the results of the placement of shares, reports on the exchange of outstanding shares of a joint-stock company of one type for shares of a given joint-stock company of another type, reports on the results of the placement or redemption of Islamic securities and derivative securities;

cancels issues of shares and bonds;

3) determines the conditions and procedure for the issuance, placement, circulation and repayment of securities, including derivative securities;

4) establishes the conditions and procedure for state registration of issues of securities, including derivative securities, consideration of reports on the results of their placement, reports on the results of the placement or repayment of Islamic securities and derivative securities, as well as their cancellation;

5)-7) (deleted - dated February 19, 2007, No. 230)

8) determines the conditions and procedure for suspending and resuming the placement and circulation of securities and derivative securities;

9) maintains the State Register of Securities, the electronic register of the licensor and the register of permits for activities on the securities market;

9-1) determines the procedure for issuing and refusing to issue consent for individuals and legal entities to acquire the status of a major participant in an investment portfolio manager, the requirements for documents submitted to obtain such consent, issues or refuses to issue such consent.;

9-2) establishes the minimum size of the authorized capital of professional participants in the securities market, the procedure for its formation and composition;

9-3) Approves prudential standards and other mandatory standards and limits for professional participants in the securities market;

10) establishes the conditions and procedure for carrying out professional activities in the securities market, including requirements for the conditions and procedure for performing transactions with securities;

11) establishes the investment procedure for investment portfolio managers and institutional investors;

11-1) establishes the procedure for the investment portfolio manager to keep records of pension savings from voluntary pension contributions in individual pension accounts of depositors (recipients);

11-2) issues a permit to reorganize the voluntary accumulative pension fund;

12) establishes the procedure for the activities of organizers of securities trading and professional organizations;

13) controls the manipulation of prices (exchange rates) of securities and other financial instruments, including derivatives of securities and foreign currencies, and the conclusion of transactions on the securities market using insider information or information constituting official, commercial, banking or other legally protected secrets;

14) regulates and controls the functioning of investment funds in accordance with the legislation of the Republic of Kazakhstan;

14-1) excluded by the Law of the Republic of Kazakhstan dated 05.07.2012 No. 30-V (effective after ten calendar days after its first official publication);

14-2) establishes requirements for a risk management system for professional participants in the securities market;

14-3) excluded by the Law of the Republic of Kazakhstan dated 07/02/2018 No. 168-VI (effective from 01.01.2019);

15) performs other functions in accordance with the legislation of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated July 4, 2003 No. 474-II.

This Law regulates public relations related to the implementation of state regulation, control and supervision of the financial market and financial organizations, and is aimed at increasing the stability of the financial system of the Republic of Kazakhstan and creating conditions to prevent violations of the rights and legitimate interests of consumers of financial services.

President

Republic of Kazakhstan

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