AFSA NOTICE № AFSA-Q-OA-2020-0026 ON MODIFICATION FOR AUTHORISED FIRMS ADVISING ON A CREDIT FACILITY, ARRANGING A CREDIT FACILITY, ADVISING ON INVESTMENTS, ARRANGING DEALS IN INVESTMENTS

MODIFICATION NOTICE

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The Rules specified in the left hand column of Table A herein do not apply to:

1. - the Authorised Firms Advising on a Credit Facility, Arranging a Credit Facility in the form appearing in the AIFC Banking Business Prudential Rules (BBR),
2. - the Authorised Firms Advising on Investments, Arranging Deals in Investments in the form appearing in the AIFC Prudential Rules for Investment Firms (PRU INV) but instead apply as modified in the right hand column of Table A.

TABLE A – RULES MODIFIED

The Rules specified in the left-hand column of Table A are modified to the extent shown in the right hand column of Table A below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered.

AIFC Act	Modified Text
BBR 4.10	4.10 Base Capital Requirement The Base Capital Requirement is: ... (d) for an Authorised Firm Arranging Credit Facility – USD 10,000 5,000; (e) for an Authorised Firm Advising on Credit Facility – USD 10,000 5,000; ...
PRU INV 3.3 (3) Table 3.3	3.3 Minimum Capital Requirement (3) The Base Capital Requirement of a PRU Investment Firm shall be the amount specified in Table 3.3 by reference to the activity that the PRU Investment Firm is authorised to conduct or, if the PRU Investment Firm is authorised to conduct more than one such activity, the amount that is the higher or highest of the relevant amounts of in Table 3.3. Table 3.3 Base Capital Requirement
	Regulated Activity	Base Capital Requirements (USD)
	...	...
	Advising on Investments	10,000 5,000
	Arranging Deals In Investments	10,000 5,000
	...	....

EFFECTIVE PERIOD

This notice comes into effect from 1 November 2020 and remains effective until 1 November 2023.

INTERPRETATION

Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the AIFC Glossary. Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

THIS NOTICE IS ISSUED PURSUANT TO SECTION 9 OF THE FINANCIAL SERVICES FRAMEWORK REGULATIONS BY THE ASTANA FINANCIAL SERVICES AUTHORITY.