The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market
How to obtain a license for forex brokers in the territory of the Republic of Kazakhstan?
The concept of a “forex broker” is not defined in the Law on the Securities Market.
However, according to paragraph 1 of Article 45 of the Law on the Securities Market, the following types of activities on the securities market are subject to licensing by the authorized body: brokerage, dealer, investment portfolio management, custodial, transfer agent, clearing activities involving transactions with financial instruments, and the organization of trading in securities and other financial instruments.
In accordance with paragraph 3-2 of Article 63 of the Law on the Securities Market, a broker and/or dealer, taking into account the specifics established by the Law, is entitled to provide its clients with consulting and informational services on matters related to transactions on unorganized (over-the-counter) foreign currency and securities markets, as well as on the organized and unorganized securities markets of the Republic of Kazakhstan, and/or to provide services related to the execution of transactions in such markets on behalf of and in the interest of clients.
These services may be provided to individuals on the territory of the Republic of Kazakhstan exclusively by brokers and/or dealers.
According to paragraph 1 of Article 47-1 of the Law on the Securities Market, a licensee must be established and operate in the legal form of a joint-stock company, with the exception of transfer agents and brokers and/or dealers without the right to maintain client accounts as nominal holders, who may be established and operate in the legal form of a limited liability partnership.
The licensing procedure on the securities market is governed by the Rules for the Issuance, Suspension, and Revocation of Licenses for the Performance of Professional Activities on the Securities Market, approved by Resolution No. 40 of the Management Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated March 30, 2020.
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Does a debtor have the right to record a conversation with a collector?
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