Astana Financial Services Authority (AFSA) and Central Bank of Hungary (Magyar Nemzeti Bank – the MNB) signed a Memorandum of Understanding for cooperation in supervision of alternative investment fund managers (AIFM) under the EU’s AIFM directive. This MoU sets the framework conditions for AIFC fund managers to market and manage alternative investment funds, such as hedge funds, private equity and real estate funds to professional investors in Hungary, as well as for Hungary to manage or market alternative investment funds in the AIFC.

In view of growing globalization of the world’s financial markets and the increase in cross-border operations and activities of managers of alternative investment funds formalization of cooperation between AFSA and MNB will allow mutual assistance in the supervision of Managers of alternative investment funds, their delegates and depositaries that operate on a cross-border basis. Through the MoU, supervisory authorities expressed their willingness to cooperate with each other in the interest of fulfilling their respective regulatory mandates, particularly in the areas of investor protection, fostering market and financial integrity, and maintaining confidence and financial stability.

Razaak Busari, Head of Authorisations Division at Astana Financial Services Authority was appointed as member of the Board of the Eurasia Chapter of ACAMS (Association of Certified Anti-Money Laundering Specialists), which was officially launched on 23 June 2021 with the support of the European Bank for Reconstruction and Development (EBRD). The Chapter bringing together Certified Anti-Money Laundering Specialists from Kazakhstan, Armenia, Azerbaijan, Georgia, Kyrgyzstan, Moldova and Ukraine.

CAMS (Certified Anti-Money Laundering Specialist) is a global gold standard in AML certifications, graduated more than 40,000 CAMS professionals worldwide.

The ACAMS Eurasia Chapter as ACAMS Community representatives will provide a platform for continuous development and networking among AFC (Anti-Financial Crime) and Sanctions professionals in the region; encourage participation in the anti-financial crime community to share professional experience and best practices and focus and augment ACAMS’ overall anti-financial crime education and training efforts.

More information about ACAMS can be found on their official website www.acams.org.

Nur-Sultan, Kazakhstan – the Astana Finance Days, annual conference of AIFC, highlighted promising perspectives for fund management industry of AIFC. Representatives of Astana Financial Services Authority (AFSA), European Securities and Markets Authority (ESMA), as well as fund managers from AIFC and Luxembourg have contributed to the discussion concerning the AIFC – EU Perspectives of Alternative Investment Funds on margins of the Astana Finance Days conference.

AIFC fund managers might take advantage of EU’s market of alternative investments funds. More specifically, AIFC fund managers may access EU market for alternative investments funds either through national private placement regimes or take advantage of existing passport regimes through securing proper arrangement with EU based fund and its manager. The discussion also covered practical aspects of fund domiciles in EU, which requires either setting up of own fund or recruiting of existing fund managers. EU has not yet activated third country passports, yet fund managers in AIFC and EU see mutually beneficial opportunities in the area of alternative investment funds.

AIFC fund regime offers tax exemptions both for investment business companies and their clients. As a result, almost doubling of investments under management since the start of 2021 has been observed, while the number of registered investment funds tripled from the start of 2021. AIFC has seen a significant increase over second quarter of 2021 in interest from fund managers considering establishing funds in the AIFC both from private and public sectors.

AFSA in coordination with the ESMA has reached agreements with securities regulators of EU concerning cooperation in supervision of alternative investment fund managers (AIFM) under the European Union (EU) AIFM directive. These agreements set the framework conditions and represent new opportunities for AIFC fund managers to market and manage alternative investment funds, such as hedge funds, private equity and real estate funds to professional investors in relevant countries of EU, as well as for EU firms to manage or market alternative investment funds in the AIFC.

Mukhtar Bubeyev, Chief Executive Officer of the AFSA, commented: “I believe that AIFC is a very promising destination for fund management industry. This sector is integral to financial markets of any successful financial centre and the AIFC has an aspiration of becoming a leading hub in Eurasia for financial services. AIFC naturally leverages its geographic position to provide international investors with access to markets in Central Asia and Eurasia. Our recent agreements with EU securities regulators give new opportunities for AIFC based fund managers to access EU markets”.

Nur-Sultan, Kazakhstan – Astana Financial Services Authority (AFSA) signed 17 Memorandums of Understanding with European securities regulators concerning cooperation in supervision of alternative investment fund managers (AIFM) under the European Union (EU) AIFM directive. 

These agreements set the framework conditions and represent new opportunities for AIFC fund managers to market and manage alternative investment funds, such as hedge funds, private equity and real estate funds to professional investors in relevant countries of EU, as well as for EU firms to manage or market alternative investment funds in the AIFC.

In view of growing globalization of the world’s financial markets and the increase in cross-border operations and activities of managers of alternative investment funds formalisation of cooperation between AIFC and EU regulators will allow mutual assistance in the supervision of Managers of alternative investment funds, their delegates and depositaries that operate on a cross-border basis.

The signatories to MoUs with the AFSA include regulators from Austria, Belgium, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Greece, Ireland, Latvia, Liechtenstein, Lithuania, Malta, Poland, Portugal, Romania and Slovakia.

Mukhtar Bubeyev, Chief Executive Officer of the AFSA, commented: “We initiated discussions with the European Securities and Markets Authority (ESMA) on cooperation in relation to supervision of alternative investment fund managers and with coordination of ESMA signed 17 MoUs with national competent authorities. This work is ongoing and we will sign more agreements. We are of the view that this gives new opportunities for AIFC based fund managers to access EU markets. As a regulator for AIFC we seek to create proper conditions for safe operations of capital markets and these MoUs allow effective supervision”.

AFSA will host the panel session “AIFC – EU Perspectives of Alternative Investment Funds” to be held on 2 July 2021 at 13:00 – 13:50 (GMT +6) on margins of the Astana Finance Days conference. For participation purposes, please register here: https://astanafindays.org/en/register (the panel session is part of the Macroeconomic Forum).

Dear AIFC Participants,

Astana Financial Services Authority (AFSA) is pleased to invite you to the panel session “AIFC – EU alternative investment funds” which will take place as part of the annual event – Astana Finance Days 2021.

During the panel session you will learn about significant opportunities for AIFC asset management and fund industry.

Topics for discussion:
1. Introduction and scope of coverage of AIFMD directive
2. Framework conditions for AIFC and EU fund managers to market and manage alternative investment funds in AIFC or EU
3. Choice of the right jurisdiction for structuring alternative investment funds
4. Recent developments and perspective of the alternative investment industry
5. Private placement regimes, registration and authorisation
6. The marketing in EU member states without a passport of AIFs managed by a non-EU AIFMs

 Moderator: Gareth Ling, Chief Regulatory Officer, AFSA

 Speakers:
– Mukhtar Bubeyev, Chief Executive Officer, AFSA
– Christian Hertz, Managing Director in Sanne’s Luxembourg office (Luxembourg)
– Sholpan Ainabayeva, CEO, SkyBridge Invest (AIFC, Kazakhstan)
– Emmanuel Doumas, Senior Policy Officer, European Securities and Markets Authority

The event will be held virtually on www.astanafindays.org, on 2 July, 13.00 – 13.50 PM Nur-Sultan time (GMT +6).
For participation purposes, please register here: https://astanafindays.org/en/register (the panel session is part of the Macroeconomic Forum).

Astana Financial Services Authority (AFSA) and National Bank of Slovakia (NBS) signed a Memorandum of Understanding for cooperation in supervision of alternative investment fund managers (AIFM) under the EU’s AIFM directive. This MoU sets the framework conditions for AIFC fund managers to market and manage alternative investment funds, such as hedge funds, private equity and real estate funds to professional investors in Slovakia, as well as for Slovakia to manage or market alternative investment funds in the AIFC.

In view of growing globalization of the world’s financial markets and the increase in cross-border operations and activities of managers of alternative investment funds formalization of cooperation between AFSA and NBS will allow mutual assistance in the supervision of Managers of alternative investment funds, their delegates and depositaries that operate on a cross-border basis. Through the MoU, supervisory authorities expressed their willingness to cooperate with each other in the interest of fulfilling their respective regulatory mandates, particularly in the areas of investor protection, fostering market and financial integrity, and maintaining confidence and financial stability.

Astana Financial Services Authority (AFSA) and Financial Services and Markets Authority of Belgium (FSMA) signed a Memorandum of Understanding for cooperation in supervision of alternative investment fund managers (AIFM) under the EU’s AIFM directive. This MoU sets the framework conditions for AIFC fund managers to market and manage alternative investment funds, such as hedge funds, private equity and real estate funds to professional investors in Belgium, as well as for Belgium to manage or market alternative investment funds in the AIFC.

In view of growing globalization of the world’s financial markets and the increase in cross-border operations and activities of managers of alternative investment funds formalization of cooperation between AFSA and FSMA will allow mutual assistance in the supervision of Managers of alternative investment funds, their delegates and depositaries that operate on a cross-border basis. Through the MoU, supervisory authorities expressed their willingness to cooperate with each other in the interest of fulfilling their respective regulatory mandates, particularly in the areas of investor protection, fostering market and financial integrity, and maintaining confidence and financial stability.

The Astana Financial Services Authority (AFSA) notifies the public that:

Mind Capital (MIND CAPITAL TECH, S.L. and/or Mindcapital OU) (website: https://mind.capital) has not been authorized and is not authorized to provide financial services in/from the Astana International Financial Centre (AIFC).

Section 24 of the AIFC Financial Services Framework Regulations, provides that a Centre Participant must not carry on a Regulated Activity, Market Activity or Ancillary Service unless it is licensed to do so by the AFSA.  Mind Capital is not an authorised person.

MIND CAPITAL TECH, S.L. registered a recognized company in the Astana International Financial Centre – Representative Office of MIND CAPITAL TECH, S.L. in the AIFC with business activity of design, production, and development of software. This representative office is not authorized to provide financial services in/from the AIFC.

Dealing with financial firms that are not authorized by the AFSA means that customers may not benefit from the protection afforded under AIFC consumer protection legislation in case of a failure of the firm to fulfill its obligations to customers.

Check the Public Register, which contains business information of companies authorized and/or registered by the AFSA, to ensure that the firm is authorized before using financial services/products.

If financial services/products are offered to consumers, it is important to check that such a firm is properly licenced by the AFSA to offer financial services in order to benefit from the applicable protection under the Applicable Law of the AIFC.

For more details please click here.