Article 8. Tasks of the authorized body of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

Home / RLA / Article 8. Tasks of the authorized body of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

1. The tasks of the authorized body are:

1) implementation of measures to prevent violations of the rights and legitimate interests of consumers of financial services;

2) creation of equal conditions for the functioning of relevant types of financial organizations, branches of non-resident banks of the Republic of Kazakhstan, branches of insurance (reinsurance) organizations of non-residents of the Republic of Kazakhstan, branches of insurance brokers of non-residents of the Republic of Kazakhstan on the principles of fair competition;

3) raising the standards and methods of regulation, control and supervision of the activities of financial institutions, using measures to ensure timely and full fulfillment of their obligations.

2. The authorized body ensures the implementation of other tasks stipulated by this Law and other legislative acts of the Republic of Kazakhstan.

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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