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Introduction

1. The Astana Financial Services Authority (AFSA) has issued this Consultation Paper to invite public comments on the proposed amendments to the AIFC Regulations and Rules which aim at updating and modernising the legal framework to meet the current needs of business and provide the flexibility needed for companies to operate in an evolving business environment

2. The proposals in this Consultation Paper will be of interest to current and potential AIFC Participants who are interested in doing business in the AIFC.

3. All comments should be in writing and sent to the address or email specified below. If sending your comments by email, please use “Consultation Paper AFSA-P-CE-2019-0009” in the subject line. You may, if relevant, identify the organisation you represent when providing your comments. The AFSA reserves the right to publish, including onits website, any comments you provide, unless you expressly request otherwise. Comments supported by reasoning and evidence will be given more weight by the AFSA.

4. The deadline for providing comments on the proposals is 25 October 2019. Once we receive your comments, we shall consider if any refinements are required to the proposals.

5. Comments to be addressed by: post: Policy and Strategy Division

Astana Financial Services Authority (AFSA)

55/17 Mangilik El avenue, block C3.2, Nur-Sultan, Kazakhstan or emailed to: consultation@afsa.kz

Tel: +7 7172 613626


6. The remainder of this Consultation Paper contains the following:

(a) background to the proposals;

(b) the key element of the proposed amendments;

(c) Annex 1: Draft of proposed amendments to AIFC Regulations;

(d) Annex 2: Draft of proposed amendments to AIFC Rules.