Article 49. Prudential standards, other indicators and criteria (standards) of financial stability required by the licensee to comply with the Law on the Securities Market

Home / RLA / Article 49. Prudential standards, other indicators and criteria (standards) of financial stability required by the licensee to comply with the Law on the Securities Market

1. The licensee is obliged to comply with prudential standards, other mandatory standards and limits of financial stability established by the regulatory legal acts of the authorized body in relation to the relevant type of activity in the securities market.

IZPI's note! Paragraph 2 is amended by the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

2. The licensee is obliged to submit to the National Bank of the Republic of Kazakhstan calculations of indicators characterizing compliance with prudential standards, other indicators and criteria (standards) of financial stability, in accordance with the regulatory legal act of the National Bank of the Republic of Kazakhstan.

3. The types of prudential standards, other norms and limits of financial stability that must be observed by the licensee, the procedure and methods for calculating their values are established by regulatory legal acts of the authorized body in relation to each type of activity in the securities market.

3-1. If the licensee fails to comply with the requirements of the authorized body specified in the written order to adjust the data in financial and (or) other statements, the calculation of prudential standards and other mandatory standards and limits is carried out by the authorized body on the basis of the corrected statements.

4. The provisions of this Law on prudential standards, other indicators and criteria (standards) of financial stability, mandatory for compliance by the licensee, do not apply to the national managing holding and legal entities, one hundred percent of the voting shares of which belong to the national managing holding, the list of which is approved by the Government of the Republic of Kazakhstan.

5. A major participant in an investment portfolio manager, a person who has the characteristics of a major participant in an investment portfolio manager, must take measures provided for by regulatory legal acts of the authorized body to maintain equity capital adequacy ratios and (or) the liquidity ratio of the investment portfolio manager.

In the event of a deterioration in the financial situation of the investment portfolio manager, a major participant in the investment portfolio manager, a person with the characteristics of a major participant in the investment portfolio manager, must, at the request of the authorized body, take measures to improve the financial situation of the investment portfolio manager, including increasing the equity capital of the investment portfolio manager, in an amount sufficient to ensure the financial stability of the investment portfolio manager.

In case of failure to comply with the requirements provided for in this paragraph, the authorized body has the right to apply compulsory supervisory response measures provided for in Article 72-3 of this Law to a major participant in the investment portfolio manager, a person who has the characteristics of a major participant in the investment portfolio manager.

6. The authorized body has the right to require the licensee to carry out an assessment of assets taken into account in the calculation of prudential standards by an appraiser and submit an assessment report within the time limits set by the authorized body.

An appraiser who has previously assessed this asset may not assess the value of an asset taken into account when calculating the licensee's prudential standards, which is carried out at the request of an authorized body in accordance with part one of this paragraph.

If the licensee fails to comply with the requirements of the authorized body in accordance with part one of this paragraph, the value of the relevant asset is excluded from the calculation of the prudential standard submitted to the authorized body on the last reporting date.

If the value of the asset included in the calculation of the prudential standard does not match the value of this asset determined by the appraiser in accordance with part one of this paragraph, the licensee submits to the authorized body an adjusted calculation of the prudential standard as of the last reporting date with the attachment of the relevant assessment report.

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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