Article 15-33. Procedure for consideration of appeals by the Financial Ombudsman of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

Home / Laws / Article 15-33. Procedure for consideration of appeals by the Financial Ombudsman of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

1. Consideration by the financial Ombudsman of the appeals of the consumer of financial services is carried out free of charge.

2. The Financial Ombudsman and employees of the Financial Ombudsman service are responsible for disclosing information obtained in the course of their functions, which constitute official, commercial, banking or other legally protected secrets, in accordance with the laws of the Republic of Kazakhstan.

3. The Financial Ombudsman Service provides an opportunity for uninterrupted referral of financial services consumers to the Financial Ombudsman, including on the Internet resource or in the mobile application of the Financial Ombudsman service.

4. The Financial Ombudsman's Service shall ensure registration of the financial services consumer's request within three working days from the date of its receipt by the Financial Ombudsman and send a copy of the said request to the subject of behavioral supervision in respect of which the request was submitted.

5. The Financial Ombudsman does not consider applications.:

1) not subject to review by the Financial Ombudsman;

2) accepted for consideration by the court and (or) for which there is a judicial act that has entered into legal force, or an executive inscription;

3) for which the consumer of financial services has not provided written evidence of his appeal to the subject of behavioral supervision in accordance with the procedure provided for by the laws of the Republic of Kazakhstan;

4) sent repeatedly, in the absence of new circumstances of the case.

6. The Financial Ombudsman, in the process of reviewing appeals, has the right:

1) request from the consumer of financial services and (or) the subject of behavioral supervision originals or duly certified copies of documents related to the subject of the request;

2) receive written and (or) oral explanations (clarifications) on the subject of the request from the consumer of financial services and (or) the subject of behavioral supervision.

The subject of behavioral supervision submits copies of the requested documents, certified by the signature of an authorized person, and explanations no later than five working days from the date of receipt of the request, unless a longer period is specified in the request of the financial Ombudsman, with the exception of disputes arising from compulsory insurance contracts, for which the deadlines for submitting the requested documents are established by separate legislative acts of the Republic of Kazakhstan regulating mandatory types of insurance.

If the subject of behavioral supervision fails to submit documents and (or) explanations within the prescribed period:

The Financial Ombudsman Service informs the authorized body about this.;

The subject of behavioral supervision is responsible in accordance with the laws of the Republic of Kazakhstan.

7. The Financial Ombudsman makes a decision on the received request from the consumer of financial services within fifteen working days from the date of receipt of the request.

If it is necessary to establish factual circumstances relevant to the proper consideration of the application, the period for consideration of the application may be extended by the financial Ombudsman for another fifteen working days, which the consumer of financial services is notified within three working days from the date of the extension.

8. Upon requests from individual borrowers regarding changes in the terms of performance of obligations under bank loan agreements and microcredit agreements not related to business activities, the Financial Ombudsman assists the parties in reaching a mutually acceptable solution and making a decision agreed upon by the parties to change the terms of performance of obligations under bank loan agreements and microcredit agreements.

Based on the results of consideration of the application by the financial ombudsman, a protocol is drawn up, which is signed by the financial ombudsman, the parties to the bank loan agreement, the microcredit agreement and contains information on the conditions for changing the conditions for fulfilling obligations under the bank loan agreement, the microcredit agreement.

9. Based on the results of consideration of the application, with the exception of the cases provided for in paragraph 8 of this Article, the Financial Ombudsman shall make one of the following decisions on:

1) full or partial satisfaction of the request;

2) refusal to satisfy the request;

3) termination of consideration of the appeal.

The decision of the financial Ombudsman must be justified and comply with the requirements of the laws of the Republic of Kazakhstan, regulatory legal acts of the authorized body and the principles of the financial ombudsman's activities.

When deciding on the full or partial satisfaction of an appeal, the decision specifies the procedure and deadlines for the execution of such a decision by the subject of behavioral supervision.

10. The decision of the Financial Ombudsman is sent to the consumer of financial services, the subject of behavioral supervision within two working days from the date of its adoption.

The decision of the Financial Ombudsman is mandatory for:

the subject of behavioral supervision – in case of written consent of the consumer of financial services with the decision of the financial ombudsman;

insurance organizations – in cases and based on the results of consideration of a dispute between insurance organizations on issues of compulsory and voluntary insurance.

11. If the subject of behavioral supervision fails to comply with the decision of the financial Ombudsman within the time limit set by him:

The Financial Ombudsman service shall inform the authorized body about this no later than three working days, accompanied by documents confirming the fact of such non-compliance.;

The subject of behavioral supervision is responsible in accordance with the laws of the Republic of Kazakhstan.

The parties to the dispute (appeal) considered by the financial Ombudsman, for whom the decision of the financial Ombudsman is mandatory, in case of disagreement with this decision, have the right to apply to the court within one month after the date of receipt of the decision of the financial Ombudsman in accordance with the legislation of the Republic of Kazakhstan to challenge this decision.

The parties to the dispute (appeals), for whom the decisions of the financial Ombudsman are not binding, in case of disagreement with the decision of the financial Ombudsman, have the right to apply to the court to resolve the dispute with the subject of behavioral supervision in accordance with the legislation of the Republic of Kazakhstan.

Filing a lawsuit in court suspends the execution of the Financial Ombudsman's decision.

12. The Financial Ombudsman shall terminate consideration of the application in the following cases::

1) in the process of reviewing an application, circumstances are identified indicating that the application is not subject to review by the financial Ombudsman;

2) if the subject of behavioral supervision satisfies the request of the consumer of financial services before the end of the consideration of the request by the financial ombudsman;

3) if the consumer of financial services and (or) his legal representative has not submitted documents and (or) explanations within the time limit set by the financial Ombudsman;

4) reconciliation of the parties on the basis of mutual concessions at any stage of its consideration;

5) not related to the pre-trial dispute settlement procedure, when a decision cannot be made on full or partial satisfaction or refusal to satisfy the request of the consumer of financial services;

6) when there are no violations of the requirements of the legislation of the Republic of Kazakhstan and (or) the terms of the contract in the actions of the subject of behavioral supervision.;

7) the death of a consumer of financial services, an individual, or his recognition as missing, or declaring him deceased;

8) liquidation of the subject of behavioral supervision.

The decision to terminate consideration of the application is sent to the consumer of the financial service, the subject of behavioral supervision, within two working days from the date of its adoption.

In case of termination of consideration of the appeal on the grounds provided for in subparagraph 3) According to this paragraph, the consumer of financial services and (or) his legal representative has the right to repeatedly apply to the financial Ombudsman with the submission of all necessary documents and (or) explanations.

In cases of termination of consideration of an application on the grounds provided for in subparagraphs 5) and 6) of this paragraph, the financial Ombudsman has the right to send a recommendation to the subject of behavioral supervision on the settlement of the applicant's application.

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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