Regulatory Alerts2024-06-23 | https://aifc.kz/legal-framework/general-rules/Added · Updated
AIFC General Rules
The AIFC General Rules establish the licensing framework for Centre Participants, defining application processes and assessment criteria for Authorised Firms, Authorised Market Institutions, and Ancillary Service Providers. The rules categorize employees into Controlled Functions requiring AFSA approval and Designated Functions subject to fit and proper tests. They impose core principles and systems and controls obligations on Authorised Persons, including requirements for compliance, internal audit, and risk management. Additionally, the rules grant the AFSA supervisory powers to require reports, mandate notifications in specific instances, and enforce accounting and auditing standards.
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