Article 15. Competence of the authorized body for regulation, control and supervision of the financial market and financial organizations of the Social Code of the Republic of Kazakhstan

Home / RLA / Article 15. Competence of the authorized body for regulation, control and supervision of the financial market and financial organizations of the Social Code of the Republic of Kazakhstan

Authorized body for regulation, Control and Supervision of the Financial market and Financial Organizations:

1) develops and approves regulatory legal acts regarding regulation, control and supervision of the financial market and financial organizations;

2) develops and approves the rules for the operation of the unified accumulative pension fund and (or) voluntary accumulative pension funds;

3) develops and approves the rules for transferring pension savings from a single accumulative pension fund to a voluntary accumulative pension fund, from a voluntary accumulative pension fund to a single accumulative pension fund, as well as from one voluntary accumulative pension fund to another voluntary accumulative pension fund;

4) develops and approves the rules for the collection of commission fees by the unified accumulative pension fund;

5) develops and approves a standard pension annuity agreement, establishes a methodology for calculating insurance premiums and insurance payments from an insurance company under a pension annuity agreement;

6) develops and approves the rules for concluding a pension annuity agreement with an insurance company and transferring pension savings (redemption amount) to an insurance company, a single accumulative pension fund under a pension annuity agreement;

7) develops and approves requirements for investment portfolio managers to whom pension assets may be transferred to trust management in accordance with Article 37 of this Code, as well as a list of financial instruments authorized for acquisition at the expense of these pension assets.;

8) maintains and publishes on its Internet resource a register of investment portfolio managers who meet the requirements of the authorized body for the management of pension assets;

9) develops and approves the rules and deadlines for the transfer of pension assets to the trust management of the investment portfolio manager and the transfer of pension assets from one investment portfolio manager to another investment portfolio manager or the National Bank of the Republic of Kazakhstan;

10) develops and approves rules for calculating the negative difference between the nominal return on pension assets received by the investment portfolio manager and the minimum return on pension assets, as well as rules and deadlines for reimbursement of the negative difference by the investment portfolio manager at the expense of equity;

11) develops and approves, within its competence, regulatory legal acts in the field of social protection;

11-1) monitors the procedure for the unified accumulative pension fund to keep records of target requirements, target savings and target assets;

12) performs other functions stipulated by this Code, other laws of the Republic of Kazakhstan and acts of the President of the Republic of Kazakhstan.

President

Republic of Kazakhstan

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