AFSA issues Guidance on Application of Annual Supervision Fees

The Astana Financial Services Authority (AFSA) has issued Guidance on the Application of Annual Supervision Fees to provide clarity on the calculation of annual supervision fees where different licences for Regulated Activities or Market Activities are combined.

The Guidance is issued in the context of the annual supervision fee framework under the AIFC Fees Rules (FEES). FEES 3.1.5(c) and (d) set out the methodology for combination of supervision fees where an Authorised Person carries on more than one Regulated Activity or Market Activity.

FEES 3.1.5(e) provides that AFSA may issue guidance specifying the circumstances in which combinations of licenses for Regulated Activities or Market Activities may be considered sufficiently interrelated or overlapping – in which case AIFC Participants will pay only highest applicable fee.

The Guidance also includes illustrative non-exhaustive list of examples of commonly associated activity combinations that may be considered sufficiently interrelated or overlapping.

The Guidance is available on the AFSA website at https://orderly.myafsa.com/articles/aifc-guidance-on-application-of-annual-supervision-fees.

Reference:

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition, and supervision of financial firms and market institutions in the AIFC. afsa.kz

The Astana International Financial Centre (AIFC) is an independent jurisdiction where investors and businesses meet emerging opportunities of Kazakhstan and Central Asia in a transparent and sustainable environment backed by the principles of English Common Law. aifc.kz

Public Relations and Communications Division of AFSA, [email protected]