Article 64-1. Consideration of applicants' appeals The Law on the Securities Market

Home / Laws / Article 64-1. Consideration of applicants' appeals The Law on the Securities Market

1. An organization engaged in brokerage activities on the securities market shall consider applications from individuals and legal entities related to the conduct of activities on the securities market in accordance with the procedure for conducting activities on the securities market established by a regulatory legal act of the authorized body.

2. The period for consideration by an organization engaged in brokerage activities on the securities market of appeals should not exceed fifteen working days from the date of their receipt by an organization engaged in brokerage activities on the securities market.

If it is necessary to establish factual circumstances relevant to the proper consideration of the application, the review period may be extended by fifteen working days, which the applicant is notified of within three working days from the date of the decision to extend the period.

3. Based on the results of consideration of the application, an organization engaged in brokerage activities on the securities market is obliged to send the applicant a response (decision) on the merits of his application.

4. The applicant's appeals are subject to abandonment by the organization engaged in brokerage activities on the securities market without consideration in the following cases::

1) the address to which the reply should be sent is not specified in the request.;

2) the application does not contain the surname, first name, patronymic (if it is indicated in the identity document) and its individual identification number or the applicant's full name and business identification number;

3) the appeal contains obscene or offensive language, threats to the property of an organization engaged in brokerage activities on the securities market, threats to the life, health and (or) property of its employee and (or) his family members;

4) the text of the appeal is unreadable;

5) the appeal was submitted by an unauthorized person.

In the cases provided for in subitems 2), 3), 4) and 5) of part one of this paragraph, the organization engaged in brokerage activities on the securities market, within five working days from the date of receipt of the applicant's request, sends the applicant a response indicating the reasons for leaving the request without consideration.

5. An applicant who is an individual, including one registered as an individual entrepreneur, and belongs to a small business entity, after contacting an organization engaged in brokerage activities on the securities market, has the right to apply to the financial Ombudsman in accordance with the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of the Financial Market and financial organizations" within the framework of the pre-trial dispute settlement procedure in cases of refusal to satisfy the organization, an organization engaged in brokerage activities on the securities market, the applicant's property claim, or the applicant's failure to receive a response from an organization engaged in brokerage activities on the securities market within the time period provided for in paragraph 2 of this article.

6. An organization engaged in brokerage activities on the securities market shall submit to the authorized body reports on received appeals from individuals and legal entities, the list, forms, deadlines and procedure for submitting which are established by a regulatory legal act of the authorized body.

7. The requirements established by this article do not apply to the consideration by an organization engaged in brokerage activities on the securities market of applications for the conclusion of a brokerage services agreement (accession to the terms of the brokerage services agreement).

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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