Article 15-22. Responsible Business Practices in the Financial Market of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

Home / Laws / Article 15-22. Responsible Business Practices in the Financial Market of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

1. When interacting with consumers of financial services, subjects of behavioral supervision are required to comply with responsible business practices in the financial market, which include:

1) Financial product management;

2) disclosure of information about financial products;

3) prevention of unfair practices in the financial market at all stages of interaction with consumers of financial services;

4) taking responsibility for the activities of authorized agents;

5) consideration of appeals from consumers of financial services;

6) improving the level of financial literacy of consumers of financial services, including through the development and implementation of appropriate measures.

The requirements established by subitems 2) and 3) of the first part of this paragraph shall apply to authorized agents.

2. The requirements for responsible business practices in the financial market are established by the regulatory legal acts of the authorized body.

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

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases