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

of May 30, 2022 No. 41

About modification of the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of March 30, 2020 No. 43 "About approval of Rules of issue of consent to appointment (election) of leading employees of the financial organizations, branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan, branches of insurance nonresident brokers of the Republic of Kazakhstan, bank, insurance holdings, "Fund of Guaranteeing Insurance Payments" joint-stock company, including requirements imposed to leading employees of branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan, branches of insurance nonresident brokers of the Republic of Kazakhstan, criteria of lack of faultless goodwill and the list of the documents necessary for receipt of consent"

Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Bring in the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of March 30, 2020 No. 43 "About approval of Rules of issue of consent to appointment (election) of leading employees of the financial organizations, branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan, branches of insurance nonresident brokers of the Republic of Kazakhstan, bank, insurance holdings, "Fund of Guaranteeing Insurance Payments" joint-stock company, including requirements imposed to leading employees of branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan, branches of insurance nonresident brokers of the Republic of Kazakhstan, criteria of lack of faultless goodwill and the list of documents necessary for receipt of consent" (the following change is registered in the Register of state registration of regulatory legal acts at No. 20248):

in Rules of issue of consent to appointment (election) of leading employees of the financial organizations, branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan, branches of insurance nonresident brokers of the Republic of Kazakhstan, bank, insurance holdings, "Fund of Guaranteeing Insurance Payments" joint-stock company, including requirements imposed to leading employees of branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan, branches of insurance nonresident brokers of the Republic of Kazakhstan, criteria of lack of faultless goodwill and the list of the documents necessary for receipt of consent approved by the specified resolution:

state item 4 in the following edition:

"4. For the purposes of the subitem 3) of Item 3 of article 20 of the Law on banks, the subitem 3) of Item 3 of article 34 of the Law on insurance activity, the subitem 3) of Item 2 of article 4-1 of the Law on Fonda of guaranteeing, the subitem 3) of Item 2 of article 54 of the Law on the security market, the subitem 3) of Item 2 of article 55 of the Law on provision of pensions and the subitem 3) of Item 4-1 of Rules criteria of lack of faultless goodwill are:

1) availability of not removed or unspent conviction, including availability of the judgment which took legal effect about application of criminal penalty in the form of deprivation of the right to hold leading employee position of the financial organization, holding and to be the large member (large shareholder) of the financial organization for life;

2) availability of data that the candidate was (is) the large member of the financial organization (directly or indirectly) who did not fulfill undertaken obligations or requirements of authorized body for additional capitalization of the financial organization, banking conglomerate, insurance group;

3) availability of data that the candidate was shareholder (participant), the official, person performing managerial functions in the financial organization - the nonresident of the Republic of Kazakhstan during the period no more than 1 (one) prior to bringing to insolvency of the financial organization - the nonresident of the Republic of Kazakhstan;

4) the lack of faultless goodwill revealed based on the motivated judgment created according to article 13-5 of the Law on state regulation;

5) finding of person in the list of persons involved in terrorist activities, the list of the organizations and faces tied with financing of terrorism and extremism and (or) in the list of the organizations and faces tied with financing of distribution of weapons of mass destruction, constituted according to articles 12 and 12-1 of the Law of the Republic of Kazakhstan "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing".

2. To provide to department of the insurance market and actuarial calculations 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 sixty calendar days after day of its first official publication.

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