THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND DEVELOPMENT OF THE FINANCIAL MARKET

of November 23, 2020 No. 113

About modification of some regulatory legal acts of the Republic of Kazakhstan concerning regulation of the financial market

According to the laws of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan", of December 18, 2000 "About insurance activity", of July 2, 2003 "About the security market", of July 4, 2003 "About state regulation, control and supervision of the financial market and the financial organizations", of July 7, 2004 "About investment and venture funds" Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Approve the List of regulatory legal acts of the Republic of Kazakhstan concerning regulation of the financial market to which changes are made, according to appendix to this resolution (further - the List).

2. To provide to department of methodology and prudential regulation of the financial organizations in the procedure established by the legislation of the Republic of Kazakhstan:

1) together with Legal department state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this resolution on official Internet resource of the Agency of the Republic of Kazakhstan on regulation and development of the financial market after its official publication;

3) within ten working days after state registration of this resolution submission to Legal department of data on execution of the action provided by the subitem 2) of this Item.

3. To impose control of execution of this resolution on the supervising vice-chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market.

4. This resolution becomes effective after day of its first official publication, except for the paragraph of the eighth Item 3, of the paragraph of the tenth Item 5 and the paragraph of the thirteenth Item 6 of the List which become effective since July 1, 2021.

Appendix

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of November 23, 2020 No. 113

The list of regulatory legal acts of the Republic of Kazakhstan concerning regulation of the financial market to which changes are made

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of February 24, 2012 No. 60 "About approval of Rules of investment of financial instruments and other property which is part of assets of investment fund, and the list of financial instruments which can be part of assets joint-stock and mutual investment funds" (it is registered in the Register of state registration of regulatory legal acts at No. 7540, it is published on July 4, 2012 in the Kazakhstanskaya Pravda newspaper No. 211-212 (27030-27031) following changes:

in the List of financial instruments which can be part of assets joint-stock and mutual investment funds, approved by the specified resolution:

in Item 1:

to state line, sequence number 2 in the following edition:

"

2.	The bonds issued by local executive bodies of the Republic of Kazakhstan, included in the official listing of stock exchange and (or) admitted to public trading on the stock exchange functioning in the territory of the International Financial Center "Astana"

";

to state line, sequence number 5 in the following edition:

"

5.

The non-state securities issued by the organizations of the Republic of Kazakhstan according to the legislation of the Republic of Kazakhstan or foreign states: shares of the issuers having rating assessment not below "In -" on the international scale of the Standard & Poor agency "s or rating assessment of similar level of one of other rating agencies, or rating assessment not below "kzBB-" on national scale of Standard & Poor" s, or the rating of similar level on national scale of one of other rating agencies and (or) the shares included in the official listing of stock exchange, conforming to requirements of sectors of "share" of the official listing of stock exchange and (or) the share of issuers, admitted to public trading on the stock exchange functioning in the territory of the International Financial Center "Astana"; the debt securities having rating assessment not below "In -" on the international scale of the Standard & Poor agency "s or rating assessment of similar level of one of other rating agencies, or rating assessment not below "kzBB-" on national scale of Standard & Poor" s, or the rating of similar level on national scale of one of other rating agencies or the debt securities included in the official listing of stock exchange, conforming to requirements of sectors the "debt securities" of the official listing of stock exchange and (or) debt securities admitted to public trading on the stock exchange functioning in the territory of the International Financial Center "Astana"; the infrastructure bonds of the organizations of the Republic of Kazakhstan included in the official listing of stock exchange and (or) infrastructure bonds of the organizations of the Republic of Kazakhstan admitted to public trading on the stock exchange functioning in the territory of the International Financial Center "Astana"; the shares of interval mutual investment funds which managing company is the legal entity created according to the legislation of the Republic of Kazakhstan (except for mutual investment funds, which managing company is managing company of mutual investment fund, for which asset account are acquired these shares) included in the official listing of stock exchange and (or) admitted to public trading on the stock exchange functioning in the territory of the International Financial Center "Astana"; the securities issued within restructuring of obligations of the issuer for the purpose of exchange for earlier issued securities or other obligations of this issuer.

".

2. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of February 3, 2014 No. 9 "About approval of Rules of implementation of broker and (or) dealer activities in the security market, procedure for carrying out by the broker and (or) dealer of banking activities" (it is registered in the Register of state registration of regulatory legal acts at No. 9249, it is published on April 16, 2014 in information system of law of Ad_let) the following changes:

in Rules of implementation of broker and (or) dealer activities in the security market, procedure for carrying out by the broker and (or) dealer of the banking activities approved by the specified resolution:

in Item 75:

2) to state the subitem in the following edition:

"2) the shares of legal entities included in the official listing of stock exchange, conforming to requirements of category "Premium" of the sector of "Share" of the Main platform of the official listing of stock exchange and (or) the shares of legal entities admitted to public trading on the stock exchange functioning in the territory of the International financial center "Astana" or the shares of legal entities which are in the representative list of the stock exchange index;";

4) to state the subitem in the following edition:

"4) non-state debt securities of legal entities - residents of the Republic of Kazakhstan, the "debt securities" of the Main platform of the official listing of stock exchange, non-state debt securities of legal entities issued according to the legislation of the Republic of Kazakhstan on the security market and other states, included in the sector - residents of the Republic of Kazakhstan, admitted to public trading on the stock exchange functioning in the territory of the International financial center "Astana";".

3. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of December 26, 2016 No. 304 "About establishment of normative values and techniques of calculations of prudential standard rates of the insurance (reinsurance) organization and insurance group and other regulations and limits, requirements, obligatory to observance, to the shares acquired by the insurance (reinsurance) organizations, the affiliated organizations of the insurance (reinsurance) organizations or insurance holdings (to shares in the authorized capital) legal entities, the list of bonds of the international financial institutions acquired by insurance holdings, the minimum required rating for the bonds acquired by insurance holdings and the list of rating agencies, and also the list of financial instruments (except for shares and shares in the authorized capital), acquired by the insurance (reinsurance) organizations" (it is registered in the Register of state registration of regulatory legal acts at No. 14794, it is published on February 24, 2017 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following changes:

in Normative values and techniques of calculations of prudential standard rates of the insurance (reinsurance) organization and insurance group and other regulations and limits, obligatory to the observance, approved by the specified resolution:

in Item 38:

13) to state the subitem in the following edition:

"13) the non-state debt securities of legal entities of the Republic of Kazakhstan admitted to public trading on the stock exchange functioning in the territory of the International financial center "Astana";";

20) to state the subitem in the following edition:

"20) shares of legal entities - residents of the Republic of Kazakhstan, admitted to public trading on the stock exchange functioning in the territory of the International financial center "Astana";";

To state the table of highly liquid assets of the insurance (reinsurance) organization according to appendix 5 in edition according to appendix 1 to this List of regulatory legal acts of the Republic of Kazakhstan concerning regulation of the financial market to which changes are made (further - the List);

in Requirements to the shares acquired by the insurance (reinsurance) organizations, the affiliated organizations of the insurance (reinsurance) organizations or insurance holdings (to shares in the authorized capital) the legal entities approved by the specified resolution:

3) of Item 2 to state the subitem in the following edition:

"3) shares of legal entities - residents of the Republic of Kazakhstan, admitted to public trading on the stock exchange functioning in the territory of the International financial center "Astana" and depositary receipts, basic assets of which are these shares;";

in the List of the financial instruments (except for shares and shares in the authorized capital) acquired by the insurance (reinsurance) organizations, approved by the specified resolution:

10) of Item 1 to state the subitem in the following edition:

"10) the non-state debt securities of legal entities of the Republic of Kazakhstan admitted to public trading on the stock exchange functioning in the territory of the International financial center "Astana";".

4. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of November 29, 2017 No. 234 "About establishment of the list of international financial institutions which bonds banks and bank holdings acquire in property and requirements to bonds which banks and bank holdings acquire in property" (it is registered in the Register of state registration of regulatory legal acts at No. 16149, it is published on January 8, 2018 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following change:

4) of Item 2 to state the subitem in the following edition:

"4) bonds of issuers of the Republic of Kazakhstan are included in the official listing of stock exchange of the Republic of Kazakhstan, except for the bonds which are in category "buffer category" of the sector "debt securities" of the respective platform of the official listing of stock exchange or the bond of issuers of the Republic of Kazakhstan are admitted to public trading on the stock exchange functioning in the territory of the International financial center "Astana" or have rating not below "In" on classification of Standard & Poor rating agency" s or the rating of similar level of one of other rating agencies. For the purposes of this subitem, the bonds of issuers of the Republic of Kazakhstan which are the organizations more than 50 (fifty) percent of shares in the authorized capital or placed shares of which belong to the Government of the Republic of Kazakhstan, National Bank of the Republic of Kazakhstan or national managing holding, are recognized as the bonds of issuers of the Republic of Kazakhstan having the sovereign rating of the Republic of Kazakhstan;".

5. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of April 27, 2018 No. 79 "About establishment of types of prudential standard rates, and also the indicators characterizing respect for their values for the organizations exercising control of investment portfolio, approval of Rules of calculation of values of the prudential standard rates which are subject to observance by the organizations exercising control of investment portfolio" (it is registered in the Register of state registration of regulatory legal acts at No. 17008, it is published on June 12, 2018 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following changes:

1) of Item 1 to state the subitem in the following edition:

"1) following prudential standard rates:

coefficient of sufficiency of equity which value daily makes at least 1;

liquidity rate which value daily makes:

since July 1, 2018 - 1,2 suffices;

since January 1, 2019 - 1,3 suffices;

since January 1, 2020 - 1,4 suffices;";

in Rules of calculation of values of the prudential standard rates which are subject to observance by the organizations exercising control of investment portfolio, approved by the specified resolution:

To state the table of calculation of values of prudential standard rates of the managing director of investment portfolio according to appendix in edition according to appendix 2 to the List.

6. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of April 27, 2018 No. 80 "About establishment of types of prudential standard rates, and also the indicators characterizing respect for their values for the organizations performing broker and (or) dealer activities in the security market, approval of Rules of calculation of values of the prudential standard rates which are subject to observance by the organizations performing broker and (or) dealer activities in the security market" (it is registered in the Register of state registration of regulatory legal acts at No. 17005, it is published on June 13, 2018 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following change:

1) of Item 1 to state the subitem in the following edition:

"1) following prudential standard rates:

coefficient of sufficiency of equity which value daily makes at least 1;

liquidity rate which value daily makes:

since July 1, 2018 - 1,2 suffices;

since January 1, 2019 - 1,3 suffices;

since January 1, 2020 - 1,4 suffices;

for brokers and (or) dealers for the purpose of receipt of the license for implementation of separate types of the banking activities provided by subitems 1), 2), 3) and 4) of part four of Item 1 of article 63 of the Law on the security market:

the minimum size of the authorized capital - at least 10 000 000 000 (ten billion) tenges;

the minimum size of equity - at least 10 000 000 000 (ten billion) tenges;";

in Rules of calculation of values of the prudential standard rates which are subject to observance by the organizations performing broker and (or) dealer activities in the security market, approved by the specified resolution:

To state the table of calculation of values of prudential standard rates of the organization performing broker and (or) dealer activities in the security market according to appendix in edition according to appendix 3 to the List.

7. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of August 19, 2019 No. 131 "About establishment of requirements to the shares acquired by banks, the affiliated organizations of bank or bank holding (to shares in the authorized capital) legal entities, and also aggregate value of shares of bank in the authorized capital or shares of legal entities" (it is registered in the Register of state registration of regulatory legal acts at No. 19260, it is published on August 21, 2019 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following change:

1) of Item 1 to state the subitem in the following edition:

"1) banks, the affiliated organizations of banks or bank holdings acquire shares of legal entities in case of their compliance to the following requirements:

shares of legal entities - nonresidents of the Republic of Kazakhstan, being in free circulation on the international stock exchanges specified in the List of the international stock exchanges according to appendix 1 to this resolution;

the shares of the legal entities recognized by the resident organizations of the Republic of Kazakhstan according to requirements of Item 3 of article 22-1 of the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market", included in the official listing of stock exchange;

shares of legal entities - residents of the Republic of Kazakhstan, being in the representative list of the stock exchange index;

shares of legal entities - residents of the Republic of Kazakhstan, included in the official listing of stock exchange, and (or) the share of legal entities - residents of the Republic of Kazakhstan, admitted to public trading on the stock exchange functioning in the territory of the International financial center "Astana";".

8. Bring in the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of October 30, 2020 No. 106 "About modification and amendments in some regulatory legal acts of the Republic of Kazakhstan and suspension of action of separate regulations of some regulatory legal acts of the Republic of Kazakhstan concerning regulation of the financial market" (it is registered in the Register of state registration of regulatory legal acts at No. 21554, it is published on November 03, 2020 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) (further - the resolution) the following changes:

in the List of regulatory legal acts of the Republic of Kazakhstan concerning regulation of the financial market to which changes and amendment are made, approved by the specified resolution:

state appendix 3 in edition according to appendix 4 to the List;

to state appendix 4 to the resolution in edition according to appendix 5 to the List;

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