Article 49-1. Risk management and internal control system The Law on the Securities Market
Professional participants in the securities market form a risk management and internal control system, which should include:
1) the powers and functional responsibilities for risk management and internal control of bodies of professional participants in the securities market, divisions of a professional participant in the securities market, and their responsibilities;
2) internal risk management and internal control policies and procedures;
3) limits on the allowable amount of risks individually by type of operations performed;
4) internal procedures for reporting on risk management and internal control to the bodies of professional securities market participants;
5) internal criteria for evaluating the effectiveness of the risk management system.
6) internal procedures for the development, approval and implementation of financial products. -Excluded by the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII SAM
When appointing employees to the position of head of the internal audit service (the auditor solely performing the functions of internal audit), a professional participant in the securities market independently checks them for compliance with the requirements established by the regulatory legal act of the authorized body defining the procedure for forming a risk management and internal control system.
The procedure for forming a risk management and internal control system is established by a regulatory legal act of the authorized body.
The authorized body evaluates the compliance of the risk management and internal control system with the requirements established by this article.
The requirements of this article do not apply to transfer agents.
The Law of the Republic of Kazakhstan dated July 2, 2003 No. 461.
This Law regulates public relations arising in the process of issuing, placing, circulating and redeeming equity securities and other financial instruments, the specifics of the creation and operation of securities market entities, defines the procedure for regulating, controlling and supervising the securities market in order to ensure the safe, open and effective functioning of the securities market, and the protection of investors' rights. and holders of securities, fair competition of securities market participants.
President
Republic of Kazakhstan
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