AFSA NOTICE № AFSA-T-OA-2020-0021 ON WAIVER AND MODIFICATION
WAIVER AND MODIFICATION NOTICE No. AFSA-T-AO-2020-0021
Seven Pillars Ltd
Business Identification Number
Providing Legal Services, Providing Consulting Services – strategic management advice to enhance a client’s business.
The address of the Registered Office
55/20, Mangilik Yel Avenue, Block C4.1, office 251-252, Esil district, Nur-Sultan, Kazakhstan
THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:
The Rules specified in the left hand column of the Table herein do not apply to the above mentioned Person in the form appearing in the Anti-Money Laundering, Counter-Terrorist Financing and Sanctions (“AML”) Rules but instead apply as modified in the right hand column of the Table.
TABLE – RULES MODIFIED
The Rules specified in the left-hand column of the Table are modified to the extent shown in the right hand column of the Table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered.
AML Chapter 13
Rule 13.1.3 Residency Requirement
Guidance on appointment of MLRO
(a) Under GEN 2.1.2, the MLRO function is a mandatory appointment. For the avoidance of doubt, the individual appointed as the MLRO of an Authorised Firm, other than a Representative Office, is the same individual who holds the Designated Function of MLRO of that Authorised Firm.
(b) A Relevant Person other than an Authorised Firm should make adequate arrangements to ensure that it remains in compliance with these Rules in the event that its MLRO is absent. Adequate arrangements would include appointing a
AML Chapter 13
Rule 13.2.1 Appointment of deputy
The modification in respect of the Rules specified above remains in effect for the duration of the period not exceeding 12 months on condition that the above-named Person to whom this notice applies will comply with the following conditions:
- a) to appoint a Deputy MLRO, resident in Kazakhstan, who has relevant experience or in case of absence of experience, should be provided with AML training in accordance with the Section 14.1.1 of the AIFC AML rules within 6 months from the day of Notification by the AFSA;
- b) to keep the position of the main MLRO by Director of Seven Pillars Limited, for general control and with the relevant responsibilities and functions;
- c) to keep the AFSA informed on the changes with the appointment of Director of Seven Pillars Ltd.
- If the conditions stated above are breached, this notice ceases to have effect forthwith and the Rules specified in the table herein apply to the above mentioned Person to whom this notice applies in their unmodified form as they appear in the applicable section of the Rules in force at the relevant time.
This notice comes into effect on the date of issue and remains in force until the end of the term set out above.
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.