Article 3-4. Advisory supervisory response measures The Law on the Securities Market

Home / RLA / Article 3-4. Advisory supervisory response measures The Law on the Securities Market

1. The authorized body applies recommendatory supervisory response measures in cases where deficiencies, risks or violations identified in the activities of a professional participant in the securities market, a major participant managing an investment portfolio, or a person with the characteristics of a major participant managing an investment portfolio, including through the use of reasoned judgment, do not significantly affect the financial stability of a professional market participant. securities that do not pose a threat to his financial position.

2. Recommended supervisory response measures include:

1) notification of identified deficiencies, risks or violations with the provision (if necessary, determined by the authorized body) of this information to the attention of individual bodies of a professional participant in the securities market, a major participant managing an investment portfolio, a person with the characteristics of a major participant managing an investment portfolio;

2) providing recommendations to the authorized body on the elimination of identified deficiencies, risks or violations;

3) a warning about the possibility of applying other supervisory response measures in case of repeated detection by the authorized body of deficiencies, risks or violations, as well as failure to comply with recommended supervisory response measures.

3. The recommended supervisory response measure is issued by a letter from the authorized body.

The Law of the Republic of Kazakhstan dated July 2, 2003 No. 461.

 This Law regulates public relations arising in the process of issuance, placement, circulation and repayment of equity securities and other financial instruments, the specifics of the creation and operation of securities market entities, defines the procedure for regulation, control and supervision of the securities market in order to ensure the safe, open and effective functioning of the securities market, protection of investors' rights. and holders of securities, fair competition of securities market participants.

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Republic of Kazakhstan

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