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NOTICES

Notice

AFSA NOTICE №AFSA-Q-NB-2021-0005 ON GRANTING MODIFICATIONS TO Otan Private Bank Limited

NOTICE No. AFSA-Q-NB-2021-0005


THE ASTANA FINANCIAL SERVICES AUTHORITY (AFSA)HEREBY GIVES NOTICETHAT:


OtanPrivate Bank Limited(“OPB”) was granted the modifications of the AIFC Banking Business Prudential Rules (“BBR”) 5.26 (1), 5.26 (7), 5.26 (8) and the AIFC Banking Prudential

Guideline (“BPG”) Paragraph 25 of Chapter 5, Paragraph 83 (Table F1, item 1, 2) of Chapter 6, Paragraphs 66, 178, 191 of Chapter 9 as specified in the right-hand column of the Table.


Table. MODIFIED AIFC RULE/GUIDELINE

Item No

Reference to the relevant rule/guideline

Modified rule/giudeline

1

Paragraph 66, Chapter 9 of the BPG:

Level 1 HQLA

66. Level 1 HQLA must be valued at market value and it consists of:

Paragraph 66, Chapter 9 of the BPG:

Level 1 HQLA

66. Level 1 HQLA must be valued at market value and it consists of:

claims on the National Bank of the Republic of Kazakhstan, the Government of the Republic of Kazakhstan (liquidity on the current accounts, deposits and marketable securities) that are not restricted;

claims on the Eurasian Development Bank (liquidity of the accounts, deposits and bonds) that are not restricted.

2

Paragraph 178, Chapter 9 of the BPG:

178. The Category 1 assets that receive 0% RSF factor include the following, subject to the paragraphs 186 & 187, which pertain to certain encumbered assets:

Paragraph 178, Chapter 9 of the BPG:

178. The Category 1 assets that receive 0% RSF factor include the following, subject to the paragraphs 186 & 187, which pertain to certain encumbered assets:

Claims on the National Bank of the Republic of Kazakhstan, Government of the Republic of Kazakhstan (liquidity on the accounts, deposits and bonds) thatare not restricted;

Claims on the Eurasian Development Bank (liquidity of the accounts, deposits and bonds) that are not restricted.

3

Paragraph 191, Chapter 9 of the BPG:

191. The AFSA may allow, on a case by case basis, a Bank to include a longer term asset which is relatively easy to liquidate in the sight - 8 days time band. The discount factor to be applied to types of marketable assets must be determined by reference to the following table:

Paragraph 191, Chapter 9 of the BPG:

191. The AFSA may allow, on a case by case basis, a Bank to include a longer term asset which is relatively easy to liquidate in the sight - 8 days time band. The discount factor to be appliedto types of marketable assets must be determined by reference to the following table:



Benchmark discount




Benchmark discount




Central government and central government-           guaranteed marketable Securities with twelve or fewer months 'residual maturity, including treasury bills; and eligible local authority paper and eligible bank bills.

0%



Central government and central government-           guaranteed marketable Securities with twelve or fewer months' residual maturity, including treasury bills; and eligible local authority paper and eligiblebank

bills.

0%



Non-government debt Securities

which are Investment Grade, and which have six or fewer months' residual maturity.

5%

Non-government debt Securities which areInvestment Grade, andwhich have six or fewer months' residual maturity.

5%






The marketable securities of the Eurasian Development Bank

0%


4

Paragraph 25, Chapter 5 of the BPG:

25. In respectof table 5B, the list of multilateral development banks (Item 4 in Column 1) which qualify for a 0% risk weight,are published by the BaselCommittee for Banking Supervision (BCBS). The list was originally included in the document Basel II: International Convergence of CapitalMeasurement and CapitalStandards: A RevisedFramework—Comprehensive Version¸ published by the BCBS on 30 June 2006, andhas since been updated by BCBS newsletters. As at November 2016 the list is as follows:

Paragraph 25, Chapter 5 of the BPG:

25. In respectof table 5B, the list of multilateral development banks (Item4 in Column 1) whichqualify for a 0% risk weight, are published by the Basel Committee for Banking Supervision (BCBS). The list was originallyincluded in the document BaselII: International Convergence of Capital Measurement and Capital Standards: A Revised Framework—Comprehensive Version¸ published by the BCBS on 30 June 2006, and has since been updated by BCBS newsletters. As at November 2016the list is as follows:

The Eurasian Development Bank.


5

Section 5.26 (1), Chapter 5 of the BBR:

5.26 Management of Concentration riskexposures Calculating exposures

(1) Large exposure means a grossexposure to a counterparty or connected counterparties that is 10% ormore of the Bank's regulatory capital. In thisrule:

gross exposure to a counterparty or connected counterparties is the total of the following exposures:

Section 5.26 (1), Chapter 5 of the BBR:

5.26 Management of Concentration riskexposures Calculating exposures

(1) Large exposure means a grossexposure to a counterparty or connected counterparties that is 10% ormore of the Bank's regulatory capital. In thisrule:

gross exposure to a counterparty or connected counterparties is the total of the following exposures:

d) cash on accounts risk-weighted in accordance withTable 5B and Table 5C of BBR.


6

Section 5.26 (7), Chapter 5 of the BBR:

5.26 Management of Concentration riskexposures

Limits on exposures

(7) The totalof the Bank'snet exposures to any 1 counterparty or any 1 group of connected counterparties must not exceed25% of theBank's regulatory capital.

Section 5.26 (7), Chapter 5 of the BBR:

5.26 Management of Concentration riskexposures

Limits on exposures

(7) The totalof the Bank'snet exposures to any 1 counterparty or any 1 group of connected counterpartiesmust not exceed 25% of the Bank's regulatory capital, except to any types of claims on the National Bank of



the Republic of Kazakhstan and the Government of the Republic of Kazakhstan. Thenet exposure on the Eurasian Development Bank is limited up to 300% of the Bank'sregulatory capital.

7

Section 5.26 (8), Chapter 5 of the BBR:

5.26 Management of Concentration riskexposures

Limits on exposures

(8) The totalof all of the Bank'snet large exposures must not exceed800% of thatcapital.

Section 5.26 (8), Chapter 5 of the BBR:

5.26 Management of Concentration riskexposures

Limits on exposures

(8) The totalof all of the Bank'snet large exposures must not exceed800% of that capital, except to any types ofclaims on the National Bank of the Republic of Kazakhstan and the Government of the Republic of Kazakhstan.

8

Paragraph 83 (TableF1, items 1,2),Chapter 6 of the BPG:

83. The Bank may offsetmatched long and short positions (including positions in derivatives) in identical instruments with exactly the same issuer,coupon, currency andmaturity.

Table F1 specific risk capital charges

Paragraph 83 (TableF1, items 1,2),Chapter 6 of the BPG:

83. The Bank may offsetmatched long and short positions (including positions in derivatives) in identical instruments with exactly the same issuer,coupon, currency andmaturity.

Table F1 specific risk capital charges


column 1

item

column  2 category

column 3

external credit rating

column 4

residual maturity

column 5

specific risk capital

charge (%)


1

government

AAA to AA-

and             claims

on          the

National Bank of theRepublic of Kazakhstan and        the Government of           the

Republic of Kazakhstan.


0.00







2

qualifying

claims on the Eurasian


0.00







Development Bank






CONDITION


The modifications granted in the above Table are subject to monthly reporting of large exposures, including monthly reporting of top-tendepositors and top-tencreditors.

The modification items 4, 5, 6, 7 of the above Table are granted for 12 months and are renewable unless Otan Private Bank Limited identifies other additional counterparty banks to allocate its funds.

The AFSA will publish the modifications of BBR 5.26 (1), 5.26 (7), 5.26 (8) and BPG Paragraph

25of Chapter 5, Paragraph 83 (Table F1, item 1, 2) of Chapter 6, Paragraphs 66, 178, 191 of Chapter9 on its officialwebsite.


EFFECTIVE PERIOD


This notice comes into effect on the date of issue.


INTERPRETATION


THIS NOTICE IS ISSUED PURSUANTTO SECTION 9 OF THE FINANCIAL SERVICESFRAMEWORK REGULATIONS BY THE ASTANAFINANCIAL SERVICES AUTHORITY.

AFSA NOTICE № AFSA-A-NB-2021-0003 ON CLASS MODIFICATION

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 Authorised Crowdfunding Platforms in the form appearing in the AIFC Authorised Market Institution Rules (AMI) but instead apply as modified in the right-hand column of the Table.

TABLE – MODIFIED AIFC RULE

The Rule 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.

AIFC Act

Modified Text

7.3.1 (5) AMI

Rule 7.3.1 (5) Clients of an Authorised Crowdfunding Platform

For the purposes of AMI 7, “Accredited Lender or Accredited Investor” means:

a) in respect of a Loan Crowdfunding Platform, any natural person who lends or intends to lend for a total consideration of at least USD100,000 (or an equivalent amount in another currency) per Borrower across one or more Permitted Loans in any 12-month period; or

(b) in respect of an Investment Crowdfunding Platform, any natural person who acquires or intends to acquire Permitted Investments for a total consideration of at least USD 100,000 (or an equivalent amount in another currency) per Issuer across one or more offers in any 12-month period; or

(c) an Authorised Person; or

(d) a Body Corporate.

a “Professional Client” as defined in COB 2.3 or a “Market Counterparty” as defined in COB 2.7.


EFFECTIVE PERIOD

This notice comes into effect on the date of issue and remains in force until further instruction from AFSA.

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 REGLATIONS BY THE ASTANA FINANCIAL SERVICES AUTHORITY.


AFSA NOTICE № AFSA-T-NB-2021-0002 ON GRANTING MODIFICATION TO PROGRESS CONNECT LTD

NOTICE No. AFSA-T-NB-2021-0002

To

Progress Connect Ltd

Business Identification Number

190840900022

Permitted Activity

Providing Accountancy Services, Providing Consulting Services on Tax and Business Management.

The address of the Registered Office

55/17, Mangilik El Street, Office145, 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 mentionedPerson in the form appearing in the sections 13.1.3 and 13.2.1 of Anti-Money Laundering, Counter- Terrorist Financing and Sanctions Rules (“AML”) 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 deletedtext, otherwise the Rule remains unaltered.

AIFC Act

Modified Text

AML Chapter 13

Rule 13.1.3 Residency Requirement

The MLRO mustbe resident in the Kazakhstan except in thecase of the MLRO for a Registered Auditor.

Guidance on appointment of MLRO

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, otherthan a Representative Office, is the same individual who holds the Designated Function of MLRO of that Authorised Firm.

A Relevant Person other than an Authorised Firm should make adequate arrangements to ensure that it remains in compliance withthese Rules in the eventthat its MLRO is absent. Adequate arrangements would include appointing a temporary deputy MLRO for the period of the MLRO'sabsence or makingsure that the Relevant Person’sAML systems and controls allowit to continue to comply with these Ruleswhen the MLRO is absent.

AML Chapter 13

Rule 13.2.1 Appointment of deputy

An Authorised Firm,other than a Representative Office, Ancillary ServiceProvider must appoint an individual to act as a deputy MLRO resident in Kazakhstan of the Authorised Firm to fulfil the role of the MLRO in his or her absence.


CONDITIONS

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:

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 within 6 months from the day of Notification by the AFSA;

to keep the position of the main MLRO by Director of the firm for general control and with the relevant responsibilities and functions;

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.

EFFECTIVE PERIOD

Thisnotice comes into effect on the date of issue and remainsin force until the end of the term set out above.

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.

AFSA NOTICE № AFSA-Q-NB-2021-0004

NOTICE No. AFSA-Q-NB-2021-0004

THE ASTANA FINANCIAL SERVICES AUTHORITY (AFSA) HEREBY GIVES NOTICE THAT:

LARECO Underwriting Agency Limited was granted the modification of the AIFC General Rule (“GEN”) 6.3.9 (b) as specified in the right-hand column of the Table A.

Table A. MODIFIED AIFC RULE

Reference to the relevant rule

Modified rule

Rule 6.3.9. (b) of the AIFC General Rules:

6.3.9. Audit reports

An Authorised Person must:

...

(b) submit any reports so produced to the AFSA within four months of the Authorised Person’s year end.



6.3.9. Audit reports

An Authorised Person must:

...

“(b) submit any reports so produced to the AFSA after the first year of business commencement, within four months of the Authorised Person’s year end, and for the period since the date of the Authorised Person’s authorisation by the AFSA.”



CONDITION

The modification granted in the above Table A is subject to providing ASFA and the LARECO Underwriting Agency Limited’s shareholders, within four months of the year end, with the unaudited reports of the annual year-end financial performances until the first year of business commencement.

The AFSA will publish the modification of GEN 6.3.9 (b) on its official website.

EFFECTIVE PERIOD

This notice comes into effect on the date of issue.

INTERPRETATION

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

AFSA NOTICE № AFSA-Q-NB-2021-0003 ON GRANTING MODIFICATION TO OTAN PRIVATE BANK LIMITED

ON GRANTING MODIFICATIONS TO OTAN PRIVATE BANK LIMITED

NOTICE No. AFSA-Q-NB-2021-0003

THE ASTANA FINANCIAL SERVICES AUTHORITY (AFSA) HEREBY GIVES NOTICE THAT:

Otan Private Bank Limited (“OPB”) was granted the modification of the AIFC General Rule (“GEN”) 6.3.9 (b) as specified in the right-hand column of the Table A.

Table A. MODIFIED AIFC RULE

Reference to the relevant rule

Modified rule

Rule 6.3.9. (b) of the AIFC General Rules:

6.3.9. Audit reports

An Authorised Person must:

...

(b) submit any reports so produced to the AFSA within four months of the Authorised Person’s year end.



6.3.9. Audit reports

An Authorised Person must:

...

“(b) submit any reports so produced to the AFSA after the first year of business commencement, within four months of the Authorised Person’s year end, and for the period since the date of the Authorised Person’s authorisation by the AFSA.”


CONDITION

The modification granted in the above Table A is subject to providing ASFA and the Otan Private Bank Limited shareholders, within four months of the year end, with the unaudited reports of the annual year-end financial performances until the first year of business commencement.

The AFSA will publish the modification of GEN 6.3.9 (b) on its official website.

EFFECTIVE PERIOD

This notice comes into effect on the date of issue.

INTERPRETATION

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

AFSA NOTICE № AFSA-N-NB-2021-0002 ON CLASS MODIFICATION

NOTICE No. AFSA-N-NB-2021-0002

THE ASTANA FINANCIAL SERVICES AUTHORITY (AFSA) HEREBY GIVES NOTICE THAT:

The Rules specified in the left-hand column of the Table herein do apply to the Recognised Non-AIFC Members, including those which have been admitted as trading members of the Authorised Investment Exchange. The requirements on an annual report and period of its submission are subject to a class modification in accordance with Rule 2.2.1. (a)(i) and (d) as modified in the right-hand column of the Table, and the requirement on notifications is subject to a class modification in accordance with Rule 2.2.2. 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.

AIFC Act

Proposed modification

AIFC Recognition Rules

2.2.1. Annual reports

a) A Recognised Non-AIFC Member, which is not a trading member of the Authorised Investment Exchange, shall provide the AFSA and a Recognised Non-AIFC Member, which is a trading member of the Authorised Investment Exchange, shall provide the Authorised Investment Exchange with an annual report which must include:

(i) a copy of its audited annual report and accounts, including any consolidated annual report and accounts of any Group of which the Recognised Non-AIFC Member is a member;

(d) Copies of the report should be sent to the AFSA within two five months after the end of the period to which it relates.

AIFC Recognition Rules

2.2.2. Notifications to be made to the AFSA

2.2.2. Notifications to be made to the AFSA

A Recognised Non-AIFC Member must notify the AFSA or, in case such Recognised Non-AIFC Member is an effective trading member of the Authorised Investment Exchange, the Authorised Investment Exchange, of the events identified in the first column of the table in Schedule 3 within the period and in the manner specified in the second and third columns of that table.

EFFECTIVE PERIOD

This notice comes into effect from 1 March 2021 and remains effective until 2 July 2022.


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.

[deleted]

[deleted]

AFSA NOTICE № AFSA-Q-NB-2021-0001 ON NO-ACTION LETTER

NOTICE No. AFSA-Q-NB-2021-0001

ON NO-ACTION LETTER

THE ASTANA FINANCIAL SERVICES AUTHORITY (AFSA) HEREBY HEREBY GIVES NOTICE THAT:

Kazakhstan Energy Reinsurance Company Ltd. (KERC) was given no-action letter for appointment of an external Auditor, which is not an AIFC Participant, due to the fact that the branch of the appointed external Auditor in the AIFC is not yet operational.

Based on the facts and representations set forth by KERC, in accordance with Section 9 of AIFC Financial Services Framework Regulations, AFSA does not intent to take regulatory action against KERC.

The no-action position of AFSA only relates to requirement to appoint an Auditor set out in AIFC Financial Services Framework Regulations.

EFFECTIVE PERIOD

This no-action letter comes into effect on the date of issue and remains in force until 31 December 2021.

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. IT IS NOT A LEGAL OPINION, IT IS AN EXPRESSION OF REGULATORY INTENT AND IS SPECIFIC TO THE FACTS AND CIRCUMSTANCES.

AFSA NOTICE № AFSA-N-NB-2021-0001 ON CLASS WAIVER IN RESPECT OF AGENT FOR SERVICE OF PROCESS

NOTICE No. AFSA-N-NB-2021-0001

THE ASTANA FINANCIAL SERVICES AUTHORITY (AFSA) HEREBY GIVES NOTICE THAT:

The Rules specified in Table A herein do not apply to the Authorised Market Institutions and its Members including Recognised Non-AIFC Members (RNAMs) incorporated outside the Republic of Kazakhstan, Persons who seek to have Securities or Units in a Listed Fund admitted to trading and issuers of Securities or Units in a Listed Fund.

RULES WAIVED

TABLE A

AIFC Act

Waived Rule

AIFC AUTHORISED MARKET INSTITUTION RULES (AMI)



2.6.4 (d)

An Authorised Market Institution may not admit a Recognised Non-AIFC Member as a Member unless, where the Recognised Non-AIFC Member is incorporated outside the Republic of Kazakhstan, it appoints and maintains at all times, an agent for service of process in the AIFC.

3.2.3 (d)


An Authorised Investment Exchange may not admit Securities or Units in a Listed Fund to trading unless the Person who seeks to have such Investments admitted to trading, appoints and maintains at all times, an agent for service of process in the AIFC and requires such agent to accept its appointment for service of process.

3.6.6 (d)

An Authorised Investment Exchange may not admit Securities or Units in a Listed Fund to an Official List unless the issuer of such Investments appoints and maintains at all times, an agent for service of process in the AIFC and requires such agent to accept its appointment for service of process.

CONDITIONS

Astana International Exchange Limited, Recognised Non-AIFC Members incorporated outside the Republic of Kazakhstan and Persons who seek to have Securities or Units in a Listed Fund admitted to trading and Issuers of Securities or Units in a Listed Fund enter into enforceable undertaking:

  1. a) to treat any service of process addressed to designated electronic mail address as a proper service of process where any possible defenses against these arrangements to the service of process cannot be used as a basis for judicial actions;
  2. b) to acknowledge all the emails received from either the Astana lnternational Exchange Limited or AFSA;
  3. c) to appoint and maintain at all times an agent for service of process in the AIFC after the lapse of this waiver or untill the further notice.

EFFECTIVE PERIOD

This notice comes into effect on the date of issue and remains in force for 12 (twelve) months thereafter or until the further notice, whichever is the earlier.

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.

[deleted]

[deleted]

AFSA NOTICE № AFSA-Q-OA-2020-0031 ON MODIFICATION FOR TAKAFUL OPERATORS

MODIFICATION NOTICE

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The Rule specified in the left hand column of Table A herein does not apply to the Takaful Operators in the form appearing in the AIFC Takaful and Retakaful Prudential Rules (TRR) but instead applies as modified in the right hand column of Table A.

TABLE A – RULES MODIFIED

The Rule specified in the left-hand column of Table A is 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

TRR 1.1 (3) of Schedule 4

1.1 The Capital Floor

(3) The Capital Floor is:

(a) US$7,000,000 for an AIFC-Incorporated Takaful Operator carrying on General Takaful Business; US$5,000,000 for an AIFC-Incorporated Takaful Operator carrying on General Takaful Business, including AIFC-Incorporated Takaful Operator pursuing takaful business in one or more categories referred to Categories of General Takaful 10, 11, 12, 13, 14, 15, 19 and 20;

(b) US$7,000,000 for an AIFC-Incorporated Takaful Operator carrying on Family Takaful Business; or US$3,000,000 for another AIFC-Incorporated Takaful Operator carrying on General Takaful Business;

(c) An amount specified in writing by the AFSA. US$1,500,000 for an AIFC-Incorporated Takaful Operator carrying on General Takaful Business who underwrites only a single category referred to Categories of General Takaful 1 and 2;

(d) US$5,000,000 for an AIFC-Incorporated Takaful Operator carrying on Family Takaful Business; or

(e) An amount specified in writing by the AFSA.

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 REGLATIONS BY THE ASTANA FINANCIAL SERVICES AUTHORITY.

AFSA NOTICE № AFSA-Q-OA-2020-0030 ON WAIVER AND MODIFICATION FOR CERTAIN TYPES OF INVESTMENT FIRMS

WAIVER AND MODIFICATION NOTICE

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

1. The Rule specified in Table A herein does not apply to the Authorised Firms carrying on Regulated Activity of Arranging Custody, Providing Fund Administration, Advising on Investments and Arranging Deals in Investments.

AND

2. The Rule specified in the left hand column of Table B herein does not apply to the Authorised Firms carrying on Regulated Activity of Providing Trust Services in the form appearing in the AIFC Prudential Rules for Investment Firms but instead applies as modified in the right hand column of Table B.

TABLE A – RULES WAIVED

AIFC Act

Waived Rule

AIFC Prudential Rules for Investment Firms 4.2 (1)

4.2 Liquid Assets requirement

(1) A PRU Investment Firm must have, at all times, Liquid Assets whose value is at least equal to 25% of the firm’s Annual Operating Expenditure (as defined in Rule 4.4).


TABLE B – RULES MODIFIED

The Rule specified in the left-hand column of Table B is modified to the extent shown in the right hand column of Table B below. In this table, underlining indicates new text, otherwise the Rule remains unaltered.

AIFC Act

Waived Rule

AIFC Prudential Rules for Investment Firms 4.2 (1)

4.2 Liquid Assets requirement

(1) A PRU Investment Firm must have, at all times, Liquid Assets whose value is at least equal to 25% of the firm’s Annual Operating Expenditure (as defined in Rule 4.4).

A PRU Investment Firm authorised for Providing Trust Services must have, at all times, Liquid Assets whose value is at least equal to 10% of the firm’s Annual Operating Expenditure (as defined in Rule 4.4), in case if it is not acting as trustee in respect of an express trust.


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.

AFSA NOTICE № AFSA-Q-OA-2020-0029 ON MODIFICATION FOR BANKS AND CREDIT PROVIDERS

MODIFICATION NOTICE

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The Rule specified in the left hand column of Table A herein does not apply to the Banks and Credit Providers in the form appearing in the AIFC Banking Business Prudential Rules (BBR) but instead applies as modified in the right hand column of Table A.

TABLE A – RULES MODIFIED

The Rule specified in the left-hand column of the Table A is 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:

a) for a Bank – USD 10 5 million;

c) for a Credit Provider – USD 2 million 500,000;


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.

AFSA NOTICE № AFSA-Q-OA-2020-0028 ON MODIFICATION FOR ISLAMIC BANKS AND ISLAMIC FINANCING COMPANIES

MODIFICATION NOTICE

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The Rule specified in the left hand column of Table A herein does not apply to the Islamic Banks and Islamic Financing Companies in the form appearing in the AIFC Islamic Banking Business Prudential Rules (IBB) but instead applies as modified in the right hand column of Table A.

TABLE A – RULES MODIFIED

The Rule specified in the left-hand column of Table A is 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

IBB 4.7.

4.7. Base capital requirement

The Base capital requirement is defined as:

(a) for an Islamic Bank – USD 10 5 million;

...

(c) for an Islamic Financing Company - USD 2 million:

(i) in case if only own funds are used – USD 100,000;

(ii) in case if not only own funds are used – USD 500,000.


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.

AFSA NOTICE № AFSA-Q-OA-2020-0027 ON MODIFICATION FOR AUTHORISED FIRMS PROVIDING TRUST SERVICES

MODIFICATION NOTICE

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The Rule specified in the left hand column of Table A herein does not apply to the Authorised Firms Providing Trust Services in the form appearing in the AIFC Prudential Rules for Investment Firms (PRU INV) but instead applies as modified in the right hand column of Table A.

TABLE A – RULES MODIFIED

The Rule specified in the left-hand column of Table A is 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


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 Requirement (USD)

...

...

Providing Trust Services

200.000

Providing Trust Services (where an Authorised Firm is not acting as trustee in respect of an express trust and does not hold clients’ money)

10.000

...

...


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.

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.

AFSA NOTICE № AFSA-Q-OA-2020-0025 ON MODIFICATION FOR INSURANCE INTERMEDIARIES AND INSURANCE MANAGERS

MODIFICATION NOTICE

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The Rule specified in the left hand column of Table A herein does not apply to the Insurance Intermediaries and Insurance Managers in the form appearing in the AIFC Prudential Rules for Insurance Intermediaries and Insurance Managers (PRU INT) but instead applies as modified in the right hand column of Table A.

TABLE A – RULES MODIFIED

The Rule specified in the left-hand column of Table A is 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

PRU INT 3.2 (2)

3.2 Minimum Capital Requirement

(2) The Minimum Capital Requirement:

(a) for an Insurance Intermediary that is not permitted to hold Client Money, is the greater of:

(i) USD 7,000 5,000; and

(ii) 2.5 0.5 per cent of the annual income of the Insurance Intermediary.

(b) for an Insurance Intermediary that is permitted to hold Client Money, is the greater of:

(i) USD 13,000 7,000; and

(ii) 5 2.5 per cent of the annual income of the Insurance Intermediary.

(c) for an Insurance Manager that is not permitted to hold Client Money, is the greater of

(i) USD 7,000 5,000; and

(ii) 2.5 0.5 per cent of the annual income of the Insurance Manager.

(d) for an Insurance Manager that is permitted to hold Client Money, is the greater of

(i) USD 13,000 7,000; and

(ii) 5 2.5 per cent of the annual income of the Insurance Manager.


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.

AFSA NOTICE № AFSA-Q-OA-2020-0024 ON MODIFICATION FOR INSURERS

MODIFICATION NOTICE

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The Rule specified in the left hand column of Table A herein does not apply to the Insurers in the form appearing in the AIFC Insurance and Reinsurance Prudential Rules (PINS) but instead applies as modified in the right hand column of Table A.

TABLE A – RULES MODIFIED

The Rule specified in the left-hand column of Table A is 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

PINS 1.1 (3) of Schedule 4

1.1 The Capital Floor

(3) The Capital Floor is:

(a) US$7,000,000 for an AIFC-Incorporated Insurer carrying on General Insurance Business; US$5,000,000 for an AIFC-Incorporated Insurer carrying on General Insurance Business, including AIFC-Incorporated Insurer pursuing insurance in one or more categories referred to Categories of General Insurance 10, 11, 12, 13, 14, 15, 19 and 20;

(b) US$7,000,000 for an AIFC-Incorporated Insurer carrying on Long-term Insurance Business; or US$3,000,000 for another AIFC-Incorporated Insurer carrying on General Insurance Business;

(c) An amount specified in writing by the AFSA. US$1,500,000 for an AIFC-Incorporated Insurer carrying on General Insurance Business who underwrites only a single category referred to Categories of General Insurance 1 and 2;

(d) US$5,000,000 for an AIFC-Incorporated Insurer carrying on Long-term Insurance Business; or

(e) an amount specified in writing by the AFSA.


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.

AFSA NOTICE № AFSA-N-NB-2020-0003 ON WAIVER AND MODIFICATION

WAIVER AND MODIFICATION NOTICE No. AFSA-N-NB-2020-0003


To

Pre – IPO issuer, KCR Investments N.V.

The address of the Registered Office

Piet Heinkade 55, Amsterdam, The Netherlands.


THE ASTANA FINANCIAL SERVICES AUTHORITY (AFSA) HEREBY GIVES NOTICE THAT:

The AFSA extends the time period required by provision 3.4.2 (a) of AIFC Market Rules No.FR0003 of 2017 for making market disclosure by KCR Investments N.V. in relation to its annual financial report at the latest on 31 October 2020.

CONDITIONS

None.

EFFECTIVE PERIOD

This notice comes into effect on the date of its issue and remains in force until 31 October 2020.

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

AFSA NOTICE № AFSA-N-NB-2020-0002 ON POSTPONEMENT OF THE DEADLINES FOR SUBMISSION OF ANNUAL FINANCIAL REPORTS BY RECOGNISED NON-AIFC MEMBERS

THE ASTANA FINANCIAL SERVICES AUTHORITY (AFSA) HEREBY GIVES NOTICE THAT:

For the purpose of addressing the impacts and challenges, as well as to support National actions aimed to mitigate the risks raised by Covid-19 pandemic, the AFSA extends the time period required by provision 2.2.1 (d) of AIFC Recognition Rules, AIFC Rules No. FR004 of 2017 for making market disclosure by RNAM in relation to its annual financial report at the latest on 1 September 2020.

EFFECTIVE PERIOD

This notice comes into effect on the date of its issue and remains in force until 1 September 2020.

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.

AFSA NOTICE № AFSA-T-OA-2020-0021 ON WAIVER AND MODIFICATION

WAIVER AND MODIFICATION NOTICE No. AFSA-T-AO-2020-0021


To

Seven Pillars Ltd

Business Identification Number

200340900267

Permitted Activity

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.


AIFC Act

Modified Text

AML Chapter 13

Rule 13.1.3 Residency Requirement

The MLRO must be resident in the Kazakhstan except in the case of the MLRO for a Registered Auditor.

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 temporary deputy MLRO for the period of the MLRO's absence or making sure that the Relevant Person’s AML systems and controls allow it to continue to comply with these Rules when the MLRO is absent.

AML Chapter 13

Rule 13.2.1 Appointment of deputy

An Authorised Firm, other than a Representative Office, Ancillary Service Provider must appoint an individual to act as a deputy MLRO resident in Kazakhstan of the Authorised Firm to fulfil the role of the MLRO in his or her absence.


CONDITIONS

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:

  1. 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;
  2. 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;
  3. c) to keep the AFSA informed on the changes with the appointment of Director of Seven Pillars Ltd.
  4. 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.

EFFECTIVE PERIOD

This notice comes into effect on the date of issue and remains in force until the end of the term set out above.

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.

AFSA NOTICE № AFSA-T-NB-2020-0004 ON WAIVER AND MODIFICATION

WAIVER AND MODIFICATION NOTICE No. AFSA-T-NB-2020-0004 dated 24.06.2020

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

1. The Rules specified in Table A herein do not apply to the Authorised Firms carrying on Regulated Activity of Operating a Representative Office.

AND

2. The Rule specified in the left hand column of Table B herein do not apply to the Authorised Firms carrying on Regulated Activity of Operating a Representative Office in the form appearing in the AIFC AML Rules (AML) but instead apply as modified in the right hand column of the table.

TABLE A – RULES WAIVED

AIFC Act

Waived Rule

GEN

2.1.1

GEN

2.1.2

REP

3.4 (1) (a)


TABLE B – RULES MODIFIED

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


AIFC Act

Modified Text

AML Chapter 2

Rule 2.1 Application

(a) The AML Rules apply to:

(i) every Relevant Person in respect of all its AFSA regulated or supervised activities excluding a Regulated Activity of Operating a Representative Office; and

(ii) the persons specified in AML 2.2 as being responsible for a Relevant Person's compliance with these Rules.

(b) For the purposes of these Rules, a Relevant Person means:

(i) an Authorised Firm;

(ii) an Authorised Market Institution;

(iii) a DNFBP; or

(iv) a Registered Auditor.


EFFECTIVE PERIOD

This notice comes into effect on the date of issue and remains in force until the further notice.

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.

AFSA NOTICE № AFSA-T-OA-2020-0020 ON WAIVER AND MODIFICATION


To

Tengri Partners Investment Banking (Kazakhstan) JSC doing business in the AIFC as Tengri Partners Investment Banking (AIFC)

Business Identification Number

200141900106

Permitted Activity

Dealing in Investments as Principal

Dealing in Investments as Agent;

Managing Investments;

Managing a Collective Investment Scheme;

Advising on Investments;

Arranging Deals in Investments;

Providing Fund Administration

The address of the Registered Office

55/16, Mangilik Yel, Block C3.1, Office 339, Nur-Sultan


THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

Requirements of the due dates specified in Risk Mitigation Program according to the AFSA Supervision Letter #AFSA -T-EC-2020-0022 dated by 05.02.2020 are waived for the effective period

EFFECTIVE PERIOD

This notice comes into effect on the date of issue and remains in force until July 31 st , 2020.

INTERPRETATION

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

AFSA NOTICE № AFSA-T-NB-2020-0002 ON WAIVER AND MODIFICATION


To

Emirates Legal Limited

Business Identification Number

190640900114

Permitted Activity

Providing Legal Services

The address of the Registered Office

55/16, Mangilik Yel Avenue, office 364, Nur-Sultan


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.


AIFC Act

Modified Text

AML Chapter 13

Rule 13.1.3 Residency Requirement

The MLRO must be resident in the Kazakhstan except in the case of the MLRO for a Registered Auditor.

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 temporary deputy MLRO for the period of the MLRO's absence or making sure that the Relevant Person’s AML systems and controls allow it to continue to comply with these Rules when the MLRO is absent.

AML Chapter 13

Rule 13.2.1 Appointment of deputy

An Authorised Firm, other than a Representative Office, Ancillary Service Provider must appoint an individual to act as a deputy MLRO resident in Kazakhstan of the Authorised Firm to fulfil the role of the MLRO in his or her absence.


CONDITIONS

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:

  1. a) to appoint a Deputy MLRO, resident in Kazakhstan, represented by legal Associate in Emirates Legal Limited office in the AIFC;
  2. b) to keep the position of the main MLRO by Director of the firm for general control and with the relevant responsibilities and functions;
  3. c) to obtain relevant AML training for the Deputy MLRO represented by legal Associate in Emirates Legal Limited office in the AIFC within 6 months from the day of notification by AFSA.

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.

EFFECTIVE PERIOD

This notice comes into effect on the date of issue and remains in force until the end of the term set out above.

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.

AFSA NOTICE № AFSA-G-NB-2020-0001 ON AUDIT OF THE FINTECH LAB PARTICIPANTS

A. POWER

1. This Notice is given by the Astana Financial Services Authority (the “AFSA”) under Section 9 of the AIFC Financial Services Framework Regulations and provision 2.6.1.(b) of the AIFC Financial Technology Rules.

B. DURATION

1. This Notice takes effect on 14 February 2019.

2. This Notice expires until the further notice issued by the AFSA.

C. DECISION

1. The AFSA has decided to exempt the FinTech Lab Participants from the requirements to appoint an Auditor and submit the audit reports (pursuant to Sections 109 AIFC Financial Services Framework Regulations and provision 6.3.9. of the AIFC General Rules), which have:

  1. a. not commenced business with its Clients; or
  2. b. has commenced business with its Clients for the period not exceeding 3 (three) months.

2. The FinTech Lab Participants referred in C1(b) of this Notice must submit the audit reports to the AFSA in line with provision 6.3.9. of the AIFC General Rules covering a period starting from commencement of business with the Clients for which the financial audit has not been conducted.

3. A FinTech Lab Participant may appoint an auditor who is an Ancillary Service Provider and/or an auditor licensed for the performance of the audit activity in line with the laws of Republic of Kazakhstan.

D. 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.

AFSA NOTICE № 0011 ON THE PROVISION OF ANCILLARY SERVICES AND FINANCIAL SERVICES WITHIN SAME LEGAL ENTITY

AFSA NOTICE №0011 ON THE PROVISION OF ANCILLARY SERVICES AND FINANCIAL SERVICES WITHIN THE SAME LEGAL ENTITY

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The Astana Financial Services Authority is of the opinion that an AIFC Participant authorised to provide Ancillary Services cannot be authorised to carry out Regulated activities within the same legal entity. This firm must establish another entity and apply to the AFSA for obtaining a Licence to carry out Regulated Activities.

An AIFC Participant authorised to carry out Regulated Activities can provide consultancy services based on its licence, if such services are relevant and incidental to the Participant’s core business.

AFSA NOTICE № 0010 ON WAIVER AND MODIFICATION

WAIVER AND MODIFICATION NOTICE No. 0010

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

1. The Rules specified in the left-hand column of the Table A are modified to the extent shown in the right hand column of the Table A and right hand column of the Table A apply to the Reporting Entities and the Persons that intend to have Shares admitted to an Official List or admitted to trading on an Authorised Investment Exchange, and the total aggregate consideration for such Shares offered is more than USD 100,000 (or an equivalent amount in another currency) and less than USD 200,000,000 (or an equivalent amount in another currency), calculated over a period of 12 months.

AND

2. The Rules specified in the left hand column of Table A herein do not apply to the Reporting Entities and the Persons that intend to have Securities admitted to an Official List or admitted to trading on an Authorised Investment Exchange in the form appearing in the AIFC Market Rules (MAR) but instead apply as modified in the right hand column of the table.

TABLE A – RULES MODIFIED

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

AIFC Act

Modified Text

MAR 1.3.1

MAR 1.3.1 with respect to Regional Equity Market Segment (the “REMS”) Issuers Prospectus Structure

A Prospectus shall may be structured either as a single document containing all the information set out in the Prospectus as determined by Authorised Investment Exchange.:


(a) multiple documents comprising:

(i) a Prospectus Summary as set out in MAR 1.4; and

(ii)a Registration Document as set out in MAR 1.5.1 containing all the information relating to the Issuer; and

(iii)a Securities Note as set out in MAR 1.5.2 containing the information concerning the Securities to be admitted to trading on an Authorised Investment Exchange; or


(b) a single document containing a Prospectus Summary as set out in MAR 1.4 and all the information required to be included in the Registration Document and the Securities

Note.

MAR 3.4.2

MAR 3.4.2 with respect to the modification of timely disclosure regarding REMS


Time period for making market disclosure

AIFC Act

Modified Text


Starting as of the first anniversary of the admission of the Shares and/ or Certificates


over Sharesto an Official List of Securities, a Reporting Entitymust disclose its required financial reports within the following timeperiods:

(a)  in relation to its annual financial report: as soon as possible after the financial statements have beenapproved, but no later than120 days afterthe end of the financial period;

(b) in relation to its semi-annual financial report: as soon as possible and in any event no later than 60 days after the end of the period to which the report relates.; and

(c) in relation to its preliminary financial results: as soon as possible but no later than 30 minutes before the market opens on the day after the approval of the Board.

EFFECTIVE PERIOD

This notice comes into effect on the date of its issue and remains in force until the:

(i) 31 December 2020; or

(ii) effective date of introduction of a new chapter for REMS.

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.

NOTICE N8 ON WAIVER AND MODIFICATION

Notice N8 on Waiver and Modification

WAIVER AND MODIFICATION NOTICE

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

1. The Rules specified in Table A herein do not apply to the Reporting Entities and the Persons that intend to have Securities admitted to an Official List or admitted to trading on an Authorised Investment Exchange.

AND

2. The Rules specified in the left hand column of Table B herein do not apply to the Reporting Entities and the Persons that intend to have Securities admitted to an Official List or admitted to trading on an Authorised Investment Exchange in the form appearing in the AIFC Market Rules (MAR) but instead apply as modified in the right hand column of the table.

TABLE A – RULES WAIVED

AIFC Act Waived Rule

MAR 2.3.4

MAR 2.3.8

MAR 3.4.1(c)

MAR 3.4.2(c)

MAR 4.1

MAR 4.2

TABLE B – RULES MODIFIED

The Rules specified in the left-hand column of the Table B 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.

AIFC Act Modified Text

MAR 2.5.3 2.5.3 Related party transaction procedures

A Reporting Entity must ensure that:

  • (a) if the value of a Related Party Transaction is greater than 5% of value of the net assets of the Reporting Entity as stated in its most recent financial reports, it does not enter into such a transaction unless the transaction has been approved by a body competent to decide on such matters under the Reporting Entity’s constitutive documents and/or applicable law; or
  • (c) if the cumulative value of a series of Related Party Transactions with the same Related Party and Associates of that Related Party reaches the 5% threshold referred to in (a) in any 12-month period, it does not enter into the last of the series of the transactions unless such proposed action has been approved by a body competent to decide on such matters under the Reporting Entity’s constitutive documents and/or applicable law .

MAR 1.5.1 8.3 Related party transactions

MAR Schedule 1 Disclosure of any Related Party Transactions during the period covered by the historical financial information and up to the date of the Registration Document must be made in accordance with the respective IFRS standard.

MAR 1.5.1 9.4 Special categories of companies

MAR Schedule 1 If the Issuer is a special category of company, such as a property, mineral, or scientific research company, or a start up company (a company with less than 3 year track record), a report by an Expert on the assets or rights owned by the Issuer prepared at a date which shall be no later than six months before the date of the Prospectus.

EFFECTIVE PERIOD

This notice comes into effect on the date of issue and remains in force until the further notice

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.

NOTICE N7 ON WORKING CAPITAL STATEMENT

Notice N7 on Working Capital Statement

AFSA NOTICE ON WORKING CAPITAL STATEMENT

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The Astana Financial Services Authority, pursuant to sub-section 1.5.2 of the AIFC Market Rules, hereby declares that no working capital report is required. The Directors of the Issuer must provide a statement that in their opinion the working capital is sufficient for the Issuer's present requirements, that is for at least the next 12 months from the date of listing, or, if not how it proposes to provide the additional working capital needed.

NOTICE N6 ON EXEMPTION OF THE AIFC PARTICIPANTS FROM CERTAIN FINES

Notice N6 on Exemption of the AIFC Participants from certain fines

AFSA NOTICE ON THE EXEMPTION OF THE AIFC PARTICIPANTS FROM CERTAIN FINES

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The Astana International Centre Participants may be exempted from the fines applied for the overdue of application for renewal of the Commercial Licence, notification of change in registered details and filing annual returns until 1 January 2021.

NOTICE N5 ON LEGAL STATUS OF LEGAL ENTITIES INCORPORATED IN THE AIFC

Notice N5 on Legal Status of Legal Entities Incorporated in the AIFC

AFSA NOTICE ON LEGAL STATUS OF LEGAL ENTITIES INCORPORATED IN THE AIFC

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The Astana Financial Services Authority is of the opinion that legal entities incorporated (registered) in accordance with the acting law of the Astana International Financial Centre are residents of the Republic of Kazakhstan.

NOTICE N4 ON EXEMPT SECURITIES

Notice N4 on Exempt Securities

RELEVANT STATUTORY PROVISION: MAR 1.2.2 (EXEMPT SECURITIES)

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The List of Regulated Exchanges determined to be Equivalent and Securities to be admitted to the Official List maintained by the Astana International Exchange (AIX) without a Prospectus, where such securities meet requirements under (i), (ii) and (iii) of MAR 1.2.2(h):

1. Shares, Debentures and Certificates admitted to trading on the main market of the London Stock Exchange (LSE);

2. Shares admitted to trading on the AIM (Alternative Investments Market) of the London Stock Exchange (LSE);

3. Shares, Debentures admitted to trading on the Euronext Dublin;

4. Shares admitted on Main Board and Growth Enterprise Market (GEM) of the Hong Kong Stock Exchange (HKEX);

5. Shares admitted on Main Board of the Shanghai Stock Exchange (SSE).

NOTICE N3 ON CONDITIONS FOR ADMISSION OF SECURITIES ON TRADING

Notice N3 on Conditions for Admission of Securities on Trading

RELEVANT STATUTORY PROVISION: MAR 1.1.1. (CONDITIONS FOR ADMISSION OF SECURITIES TO TRADING)

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

Securities issued by the following bodies may be exempted from the requirement in MAR 1.1.1:

1) a properly constituted national or local government;

2) a legal entity of a public nature established by agreement between sovereign member states of which Kazakhstan is a member;

3) a central bank or other monetary authority of a sovereign state;

4) an issuer of securities unconditionally and irrevocably guaranteed by a national or local government of a sovereign state;

5) Sovereign Wealth Fund “Samruk-Kazyna” JSC and its direct and indirect Subsidiaries (as defined in the AIFC Glossary) subject to any conditions or restrictions that may be imposed by the AFSA and additional approval from the AFSA with respect to each specific offeror and offer; and

6) National Managing Holding “Baiterek” JSC and its direct and indirect Subsidiaries (as defined in the AIFC Glossary) subject to any conditions or restrictions that may be imposed by the AFSA and additional approval from the AFSA with respect to each specific offeror and offer.

This notice supersedes the AFSA Notice 0002.

AFSA NOTICE №AFSA-N-NB-2021-0003 ON CLASS MODIFICATION

ON CLASS MODIFICATION

NOTICE No. AFSA-N-NB-2021-0003

Date of issue: 1 June 2021


THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:


The Rule specified in the left-hand column of Table A is modified to the extent shown in the right hand column of Table A and right hand column of Table A apply to Reporting Entities that must disclose their required annual and semi-annual reports under 3.4.2 (1) of the AIFC Market Rules.


TABLE A – RULE MODIFIED


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


AIFC Act

Modified Text

AIFC Market Rules 3.4.2 Time period for making market disclosure

3.4.2 Time period for making market disclosure

(1) A Reporting Entity must disclose its required annual and semi-annual reports within the following time periods:

(a) in relation to its annual report: as soon as possible after the financial statements have been approved, but no later than 150 180 days after the end of the financial period; and

(b) in relation to its semi-annual report: as soon as possible and in any event no later than 75 120 days after the end of the period to which the report relates.

CONDITIONS

CONDITIONS

None.


EFFECTIVE PERIOD

This notice comes into effect on the date of issue and remains in force until October 31, 2021.


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

AFSA NOTICE №AFSA-Q-NB-2021-0006 ON APPROVAL OF ASSETS ELIGIBLE TO BE LEVEL 1 HQLA

NOTICE


THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:


In accordance with paragraph 66(f) of the AIFC Banking Prudential Guideline, Astana Financial Services Authority approves the assets as being eligible to be Level 1 HQLA, which satisfy the following conditions:


1) Corporate RMB and USD bonds issued by state-owned Chinese corporations with S&P rating higher than BBB-;

2) RMB and USD bonds issued by China's state-owned financial institutions with S&P rating higher than BBB- and whereas they satisfy all of the following conditions:

-they are traded in large, deep and active repo or cash markets characterised by a low level of concentration; and

-they have proven record as a reliable source of liquidity in the markets (repo or sale) even during stressed market conditions.


The above assets can be included in the total stock of HQLA without any limit (i.e. up to 100% of HQLA).


EFFECTIVE PERIOD

This notice comes into effect from 2 June 2021 and remains effective until further notice.


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 REGLATIONS BY THE ASTANA FINANCIAL SERVICES AUTHORITY.


AFSA NOTICE № AFSA-O-NB-2021-0001 ON TEMPORARY SUSPENSION OF PROTECTED CELL COMPANIES REGISTRATION

NOTICE No. AFSA-O-NB-2021-0001


THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:


Due to the absence of the legal framework of Protected Cell Companies in the Tax Code of the Republic of Kazakhstan, the registration of Protected Cell Companies is temporary suspended until relevant amendments to the Tax Code are adopted or AFSA further notice is issued.


EFFECTIVE PERIOD

This notice comes into effect on the date of issue and remains in force until the end of the term set out above.


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 7 OF THE FINANCIAL SERVICES FRAMEWORK REGLATIONS BY THE ASTANA FINANCIAL SERVICES AUTHORITY.


AFSA NOTICE №AFSA-N-NB-2021-0004 ON EQUIVALENT REGULATED EXCHANGES FOR SECURITIES AND LISTED FUNDS

NOTICE No. AFSA-N-NB-2021-0004


THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The following Regulated Exchanges are determined as Equivalent Regulated Exchanges for Securities and Listed Funds to be admitted to the Official List maintained by the Astana International Exchange (AIX) in accordance with MAR 1.2.2 (Exempt Securities) and AIFC Glossary (Equivalent Regulated Exchange for Listed Funds):

1.Toronto Stock Exchange

2.Frankfurt Stock Exchange (General Standard and Prime Standard segments)




EFFECTIVE PERIOD

This notice comes into effect on the date of issue.


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.



AFSA NOTICE № AFSA-Q-EC-2022-0016 On the Non-Action Letter for Kazakhstan Energy Reinsurance Company Ltd

NOTICE No. AFSA-Q-EC-2022-0016


THE ASTANA FINANCIAL SERVICES AUTHORITY (AFSA) HEREBY GIVES NOTICE THAT:


Kazakhstan Energy Reinsurance Company Ltd. (KERC) was given an extension of no-action letter for appointment of an external Auditor, which is not an AIFC Participant, due to the fact that the branch of the appointed external Auditor in the AIFC is not yet operational.


Based on the facts and representations set forth by KERC, in accordance with Section 9 of AIFC Financial Services Framework Regulations, AFSA does not intent to take regulatory action against KERC.


The no-action position of AFSA only relates to requirement to appoint an Auditor set out in AIFC Financial Services Framework Regulations.


EFFECTIVE PERIOD

This no-action letter comes into effect on the date of issue and remains in force until 31 December 2022.


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 REGLATIONS BY THE ASTANA FINANCIAL SERVICES AUTHORITY. IT IS NOT A LEGAL OPINION, IT IS AN EXPRESSION OF REGULATORY INTENT AND IS SPECIFIC TO THE FACTS AND CIRCUMSTANCES.


NOTICE N9 ON THE EQUIVALENT REGULATED EXCHANGES FOR LISTED FUNDS

RELEVANT STATUTORY PROVISION: GLO (EQUIVALENT REGULATED EXCHANGE FOR LISTED FUNDS)

THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The following Regulated Exchanges are determined as Equivalent Regulated Exchanges for Listed Funds:

1. The Main Market of the London Stock Exchange for Listed Funds that must be in the form of open-ended Investment Company as defined in section 236 of the Financial Services and Markets Act 2000;

2. AIM (Alternative Investments Market) of the London Stock Exchange (LSE) for admitted to trading Units of Listed Funds;

3. Euronext Dublin for admitted to trading Listed Funds and Exchange-traded funds (ETFs).

AFSA NOTICE №AFSA-N-NB-2022-0001 ON EQUIVALENT REGULATED EXCHANGES

NOTICE No. AFSA-N-NB-2022-0001


THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:

The following Regulated Exchanges are determined as Equivalent Regulated Exchanges for Securities and Listed Funds to be admitted to the Official List maintained by the Astana International Exchange (AIX) in accordance with MAR 1.2.2(2) and AIFC Glossary (Equivalent Regulated Exchange for Listed Funds):


No.

Equivalent Regulated Exchange

Effective Date

1.

London Stock Exchange



-Main Market

28 February 2019


-Alternative Investment Market

10 September 2019

2.

Euronext Dublin

10 September 2019

3.

Hong Kong Stock Exchange



-Main Board

1 November 2019


-Growth Enterprise Market

1 November 2019

4.

Shanghai Stock Exchange



-Main Board

10 January 2020

5.

Toronto Stock Exchange

3 November 2021

6.

Frankfurt Stock Exchange



-     General Standard

3 November 2021


-     Prime Standard

3 November 2021

7.

Australian Securities Exchange

20 April 2022

8.

New York Stock Exchange

20 April 2022

9.

Nasdaq Stock Market

20 April 2022


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 CONSIDERED TO BE A REPLACEMENT TO AFSA NOTICE №0004 ISSUED ON 28 FEBRUARY 2019 (AS AMENDED), AFSA NOTICE №0009 ISSUED ON  23 JULY 2019 (AS AMENDED) AND AFSA NOTICE №AFSA-N-NB-2021-0004 ISSUED ON 3 NOVEMBER 2021.


AFSA NOTICE №AFSA-Q-NB-2022-0001 ON NO-ACTION LETTER TO LARECO

AFSA NOTICE № AFSA-T-NB-2022-0059 ON GRANTING WAIVER TO SkyBridge Invest JSC doing business in the AIFC

NOTICE No. AFSA-Е-NB-2022-0059


To

SkyBridge Invest JSC doing business in the AIFC as "Branch of SkyBridge JSC in the AIFC"

Business Identification Number

181141900093

Regulated Activities

- Dealing in Investments as Principal

- Dealing in Investments as Agent

- Managing Investments

- Managing a Collective Investment Scheme

- Advising on Investments

- Arranging Deals in Investments

The address of the Registered Office

19, Kabanbay Batyr Ave., Block D, 1st fl., Nur-Sultan, Kazakhstan



THE ASTANA FINANCIAL SERVICES AUTHORITY (AFSA) HEREBY GIVES NOTICE THAT:


The requirement specified in AIFC CIS Rule 8.2.(e) on having a Fund Administrator is waived on application of SkyBridge Invest JSC doing business in the AIFC as "Branch of SkyBridge JSC in the AIFC", Fund Manager of SBI Active Fund Open-Ended Investment Company Ltd for the effective period.


EFFECTIVE PERIOD

This notice comes into effect on the date of issue and remains in force for a period of 1 year subject for reconsideration.


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 REGLATIONS BY THE ASTANA FINANCIAL SERVICES AUTHORITY.



AFSA NOTICE № AFSA-N-NB-2022-0002 ON CLASS MODIFICATION IN RESPECT OF TIME PERIOD FOR MAKING MARKET DISCLOSURE

NOTICE No. AFSA-N-NB-2022-0002


THE ASTANA FINANCIAL SERVICES AUTHORITY HEREBY GIVES NOTICE THAT:


The Rule specified in the left-hand column of the Table below is modified to the extent shown in the right-hand column of the Table and the right-hand column applies to Reporting Entities that under 3.4.2(1)(a) of the AIFC Market Rules must disclose its required annual reports and audited annual financial statements, as applicable. 


TABLE – RULE MODIFIED


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


AIFC Act

Modified Text

AIFC Market Rules

3.4.2 Time period for making market disclosure

 

3.4.2 Time period for making market disclosure

(1) A Reporting Entity must disclose its required annual and semi-annual reports within the following time periods:

(a) in relation to its annual report: as soon as possible after the financial statements have been approved, but no later than 150 181 days after the end of the financial period; and

(b) in relation to its semi-annual report: as soon as possible and in any event no later than 75 days after the end of the period to which the report relates.


CONDITIONS

None.


EFFECTIVE PERIOD

This notice comes into effect on the date of issue and remains in force until June 30, 2022 (inclusive).


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.


AFSA NOTICE № AFSA-Q-NB-2022-0002 ON SUSPENSION OF THE LICENCE OF SANITY CAPITAL LTD

NOTICE No. AFSA-Q-NB-2022-0002


THE ASTANA FINANCIAL SERVICES AUTHORITY (AFSA) HEREBY GIVES NOTICE THAT:


In accordance with Section 98 of the AIFC Financial Services Framework Regulations, the AFSA has suspended the Licence of Sanity Capital Ltd AFSA-A-LA-2021-0027 dated 20 September 2021 until further notice.


The suspension is made due to non-compliance of Sanity Capital Ltd with the AFSA’s capital and liquidity requirements as set out in the AIFC Prudential Rules for Investment Firms, together with non-compliance with the AFSA’s requirements for certain appointments to be filled at all times by Approved Individuals or Designated Individuals as set out in the AIFC General Rules.


EFFECTIVE PERIOD

This notice comes into effect on the date of issue and remains in force until further notice of the AFSA.


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 98 OF THE AIFC FINANCIAL SERVICES FRAMEWORK REGULATIONS BY THE ASTANA FINANCIAL SERVICES AUTHORITY.