Посты с тэгом: AFSA
Alert: Fraudulent Impersonation of Kantai Securities Limited and Unauthorised Investment Solicitations
The Astana Financial Services Authority (“AFSA”) hereby issues this public alert concerning fraudulent activities involving the unauthorised use of the name Kantai Securities Limited and Kantai Wealth Management Ltd. (the “Company”).
Kantai Securities Limited (BIN 180740900057) is a company registered in the Astana International Financial Centre (“AIFC”) and holds an AFSA licence (No. AFSA-A-LA-2021-0003, dated 9 February 2021) authorising it to carry out the regulated activities of Advising on Investments and Arranging Deals in Investments.
The Company was previously known as Kantai Wealth Management Ltd. and was renamed to Kantai Securities Limited on 30 May 2024.
Current Status of the Company
The AFSA emphasizes that:
- The Company’s licence does not authorise it to:
- Holding or managing client funds;
- Opening or operating trading or investment accounts for clients;
- Providing brokerage services;
- Conducting foreign exchange transactions;
- Dealing in or facilitating transactions involving digital assets.
Fraudulent Activity and Impersonation
The AFSA has received information and complaints indicating that certain individuals are representing themselves as representatives of the Company and engaging in fraudulent investment activities.
These activities include:
- Entering into purported “investment agreements” referencing both the former and current names of the Company;
- Soliciting funds from individuals under the guise of investment opportunities;
- Misrepresenting payments as “donations” instead of investments;
- Refusing to return funds and imposing conditions for withdrawals;
- Pressuring individuals to use unregulated platforms, including cryptocurrency wallets and exchanges;
- Applying psychological pressure and manipulative tactics to prevent clients from withdrawing funds.
The AFSA strongly cautions members of the public to:
- Exercise extreme caution when approached with unsolicited investment offers, particularly those involving digital assets or guaranteed returns;
- Be aware that legitimate AIFC-licensed firms will not pressure clients, request payments to personal accounts, or require the use of unregulated third-party platforms for withdrawals.
Reporting and Further Action
If you have been approached with such offers, or have concerns regarding suspicious investment activities or promotions, you are encouraged to report the matter promptly to the AFSA via email to [email protected].
The AFSA warns the public to exercise utmost caution when dealing with entities claiming to provide financial services on the basis of an AFSA licence, and encourages the public to verify the status of any such entity through the Public Register, which contains information on all entities authorised and/or registered by the AFSA.
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]
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]
AFSA Fines Veritas Group Limited and S1LK PAY Ltd.
The Astana Financial Services Authority (AFSA) has imposed financial penalties on Veritas Group Limited and S1LK PAY Ltd. (each, a “Company”, and together, the “Companies”, noting that they do not form part of the same group) following regulatory breaches identified as part of investigations conducted by the AFSA and resolved by settlement.
The AFSA fined Veritas Group Limited in the amount of USD 18,072, and S1LK PAY Ltd. in the amount of USD 19,224 following settlement of the respective breaches.
Each Company, acting independently, accepted the AFSA’s findings and agreed to settle their respective matters, accepting the financial penalties as determined by the AFSA. In addition, each Company has taken active steps to implement corrective measures to address the contraventions identified. As a result, the AFSA exercised its discretion to apply a 30% settlement discount to the financial penalties in accordance with paragraph 7.7.1 of the AFSA Enforcement Policy. The financial penalties referenced above incorporate this discount.
Summary of misconduct
During the relevant period, Veritas Group Limited engaged in activities requiring authorisation under the AIFC regulatory framework without holding the appropriate licence issued by the AFSA, and in doing so, conducted Financial Promotions in contravention of applicable regulatory requirements. In response to the AFSA’s requirement, the Company has ceased all unauthorised activities and withdrawn all related promotional materials.
The investigation into S1LK PAY Ltd. identified certain deficiencies in its systems and controls framework relating to ongoing compliance with applicable regulatory requirements and the fundamental principles set out in the Acting Law of the AIFC. S1LK PAY Ltd. has cooperated with the AFSA and developed an action plan to remediate the identified deficiencies.
Publication of settlement outcomes
At the time these enforcement matters were resolved, the AFSA Enforcement Policy did not mandate the publication of Decision Notices in all settlement cases. Subsequently, the AFSA introduced a revised approach, which includes an undertaking to publish all outcomes of enforcement proceedings as part of its enhanced transparency framework.
As these two cases were investigated, settled, and concluded during the transition to the updated publicity regime, they were processed under the previous, non-publication framework. Accordingly, no Decision Notices will be published in respect of these matters.
As a result, the AFSA considers this press release to be an appropriate and sufficient means of publicly disclosing its enforcement actions, consistent with internationally recognised standards and practices underpinning credible deterrence.
Going forward, Decision Notices arising from the AFSA’s enforcement actions will be published in accordance with paragraphs 7.5.1 and 8.3.1 of the AFSA Enforcement Policy.
The AFSA will continue to monitor each Company’s implementation of its remediation actions to ensure sustained compliance with the AIFC regulatory framework.
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]
AFSA Fines Verum Payments Limited
The Astana Financial Services Authority (AFSA) has imposed a financial penalty on Verum Payments Limited (“Company”) following regulatory breaches identified as part of an investigation conducted by the AFSA and resolved by settlement.
The AFSA fined Verum Payments Limited in the amount of USD 21,854 following settlement of the breaches.
The Company accepted the AFSA’s findings and agreed to settle the matter, accepting the financial penalty as determined by the AFSA. In addition, the Company has taken active steps to implement corrective measures to address the contraventions identified. As a result, the AFSA exercised its discretion to apply a 30% settlement discount to the financial penalty in accordance with paragraph 7.7.1 of the AFSA Enforcement Policy. The financial penalty referenced above incorporates this discount.
Summary of misconduct
Verum Payments Limited conducted Regulated Activity and made Financial Promotions prior to completing the required post‑authorisation conditions. Following the AFSA’s investigation, Verum Payments Limited developed a comprehensive action plan to address and remediate the identified contraventions.
Publication of settlement outcomes
At the time these enforcement matters were resolved, the AFSA Enforcement Policy did not mandate the publication of Decision Notices in settlement cases. Subsequently, the AFSA introduced a revised approach, which includes an undertaking to publish all outcomes of enforcement proceedings as part of its enhanced transparency framework.
As this case was investigated, settled, and concluded during the transition to the updated publicity regime, it was processed under the previous, non-publication framework. Accordingly, no Decision Notice will be published in respect of this matter.
As a result, the AFSA considers this press release to be an appropriate and sufficient means of publicly disclosing its enforcement actions, consistent with internationally recognised standards and practices underpinning credible deterrence.
Going forward, Decision Notices arising from the AFSA’s enforcement actions will be published in accordance with paragraphs 7.5.1 and 8.3.1 of the AFSA Enforcement Policy.
The AFSA will continue to monitor the Company’s implementation of its remediation actions to ensure sustained compliance with the AIFC regulatory framework.
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]
AFSA Issues Guidance in relation to Derivatives Trading
The Astana Financial Services Authority (AFSA) has issued a new Guidance relating to the Derivatives framework within the Astana International Financial Centre (AIFC).
The Guidance clarifies margin requirements for Retail Clients under the AIFC Conduct of Business Rules, setting out minimum margin expectations across different categories of underlying assets to ensure consistent application and proportionate leverage.
These updates introduce a risk-based approach aimed at strengthening investor protection, mitigating risks associated with leveraged trading, and promoting market integrity, while maintaining a balanced and proportionate regulatory framework within the AIFC.
The Guidance is available via the following link: AIFC Guidance on Margin Requirements for Retail Clients in Relation to Derivatives
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]
Alert: Unauthorised Promotion of Investment and Digital Asset Services Using the Name of Unilive Central Asia Ltd.
The Astana Financial Services Authority (“AFSA”) hereby issues a public alert regarding the regulatory status of Unilive Central Asia Ltd. (“the Company”) and concerns relating to the promotion of investment and digital asset services in connection with the Company.
The Company was registered in the Astana International Financial Centre (“AIFC”) under BIN 260240901514 on 26 February 2026 as a holding company with the purpose of owning and managing equity interests in group companies. The Company was originally registered under the name “Unimex Exchange Central Asia Ltd.” and changed its name to “Unilive Central Asia Ltd.” on 10 April 2026.
The AFSA has identified information indicating that investment‑related activities and promotional materials have been circulating on social media platforms, posted by certain individuals referencing or promoting Unilive Central Asia Ltd., describing and advertising promised returns on funds, including daily returns and the ability to withdraw funds at any time, and referencing activities involving digital assets.
The AFSA wishes to clarify that the Company is not licensed or authorised by the AFSA to provide Financial Services, including Regulated Activities in relation to Digital Assets, and is not authorised to make Financial Promotions in relation to such Financial Services within or from the AIFC.
Members of the public and potential investors are advised to take note of the above information when dealing with or considering any engagement with the Company.
The AFSA strongly advises members of the public to:
- Exercise extreme caution when approached with offers promising guaranteed or daily investment returns, particularly involving digital assets;
- Verify the status of any company before engaging with its financial services or products by consulting the AFSA Public Register, which contains up-to-date information on all AIFC Participants authorized and/or registered by the AFSA.
If you have been approached with such offers, or have concerns regarding unauthorised financial services or promotions, you are encouraged to report the matter to the AFSA via email to [email protected].
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]
Alert: Impersonation of Jade Capital OEIC Ltd. and Circulation of a Falsified AFSA Licence
The Astana Financial Services Authority (“AFSA”) is issuing this alert following information received regarding individuals falsely presenting themselves as representatives of Jade Capital OEIC Ltd. and circulating a falsified licence purportedly issued by the AFSA.
These individuals have been soliciting members of the public with offers of financial services, and have been accepting client funds under the false representation that they operate as an Authorised Firm within the Astana International Financial Centre (“AIFC”).
The AFSA confirms that the licence purportedly issued in its name and circulated by these individuals is falsified and has never been issued by the AFSA. As part of the Collective Investment Scheme structure under the AIFC framework, it is the Fund Manager – not the fund itself – that is required to hold a licence to carry out Regulated Activities. Jade Capital OEIC Ltd. is registered in the AIFC as an investment fund and does not hold a licence in its own right. All Regulated Activities are conducted by its Fund Manager.
The AFSA warns the public to exercise utmost caution when dealing with entities claiming to provide financial services on the basis of an AFSA licence, and encourages the public to verify the status of any such entity through the Public Register, which contains information on all entities authorised and/or registered by the AFSA.
Below is an example of a falsified license that is illegally presented to the public as issued by AFSA.
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]
Phang Hong Lim appointed to the Board of Directors of AFSA
Phang Hong Lim has been appointed as an Independent Non-Executive Director and Chair of the Audit and Risk Committee of the Board of Directors of the Astana Financial Services Authority (AFSA), effective 23 May 2026. The corresponding decision was approved by the Governor of the Astana International Financial Centre on May 22nd, 2026.
Angela Knight CBE, Chairperson of the AFSA Board of Directors, commented: “We are delighted to welcome Mr. Lim to the AFSA Board. His career reflects a unique combination of public- and private-sector expertise in financial sector supervision, enterprise risk management, and regional market integration. His appointment further strengthens AFSA’s international perspective and enhances the Board’s geographic diversity, particularly through his deep experience in Singapore – one of the world’s leading financial centres.”
Phang Hong Lim is an internationally recognised practitioner in risk management and financial supervision, with over four decades of experience across global financial institutions and regulatory authorities. Mr. Lim brings significant regulatory and supervisory insights from his tenure as Director at the Monetary Authority of Singapore (MAS), where he contributed to the strengthening of Singapore’s financial supervisory framework following the Asian financial crisis.
Mr. Lim’s extensive risk management experience, including his service as the Chief Risk Officer of CIMB Group and as Managing Director at Deutsche Bank, adds valuable insights towards more effective supervision. Mr. Lim also serves as Senior Director at Toronto Centre, where he supports capacity building for financial sector regulators and supervisors globally, which provides AFSA with valuable perspectives on modern supervisory practices, financial stability, and systemic risk oversight.
At the same time, Mukhtar Bubeyev, Non-Executive Director of the Board and Chair of the Audit and Risk Committee, is stepping down from the Board of Directors of AFSA upon the expiration of his term.
Angela Knight commented: “On behalf of the AFSA Board of Directors, I would like to extend our sincere gratitude to Mukhtar Bubeyev for his outstanding service and dedication. Throughout his nine-year tenure with the AIFC, Mukhtar has brought exceptional expertise, integrity, and leadership to AFSA, most recently in his role as Chair of the Audit and Risk Committee. His deep experience as a policymaker and regulatory professional has been instrumental in strengthening AFSA’s regulatory and risk management frameworks and advancing the broader AIFC ecosystem. We are grateful for his significant contributions, which have helped position AFSA as a mature and internationally recognised regulator, and we wish him every success in his future endeavours.”
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]
AFSA Publishes 2025 Annual Report Detailing Regulatory Developments and Supervisory Outcomes
The Astana Financial Services Authority (AFSA) has published its 2025 Annual Report, setting out key regulatory developments, supervisory outcomes, and institutional achievements during the year. The Report outlines AFSA’s continued focus on maintaining market integrity, investor protection, and financial stability within the Astana International Financial Centre (AIFC), while supporting responsible market growth through a transparent, risk‑based, and internationally aligned regulatory framework.
Evgeniya Bogdanova, Chief Executive Officer of AFSA, said: “2025 was for us a year of consolidation, institutional strengthening, and growing international confidence in AFSA and our markets. As we look ahead, AFSA remains committed to earning and maintaining trust through strong regulation, effective supervision, and open engagement. We enter the next phase of the AIFC’s development with confidence, responsibility, and a clear sense of purpose.”
The Report provides a comprehensive overview of AFSA’s activities across market sectors (capital markets, asset management, digital assets, banking, and insurance) and regulatory functions (registration, authorisation, supervision, enforcement, regulatory framework development, and international cooperation), reflecting the Authority’s ongoing commitment to maintaining a transparent, predictable, and robust regulatory environment.
Registration
In 2025, AFSA registered 1,467 new companies, representing a 25% increase compared to 2024. As a result, the total number of AIFC Participants reached 4,954 companies from 91 countries, reflecting continued international diversification of the Centre. On average, 28 companies per week were registered in 2025, highlighting sustained demand for the AIFC jurisdiction.
Authorisation and Financial Sector Growth
The number of financial ecosystem participants continued to expand, reaching 510 entities, including financial service firms, investment vehicles, recognised institutions and FinTech Lab participants.
In 2025, AFSA authorised 29 financial services firms, with strong interest in investment-related activities such as fund management, brokerage, and advisory services. AFSA also continued to strengthen its approach to maintaining high standards, with a number of applications not progressing further following regulatory authorisation review.
Digital Assets
The digital assets sector has been and continues to be one of the key priority areas for market development within the AIFC. In 2025, the AIFC has been recognised by IOSCO as one of the leading jurisdictions in implementing global standards for crypto and digital asset markets.
AFSA continued supervising 9 Digital Asset Service Providers (DASPs) under the full regulatory framework, and 19 DASPs operated under supervision within the FinTech Lab. In 2025, DASPs generated a total transaction volume of USD 10.58 billion, with a client base reaching approximately 215,000 users, reflecting significant growth in both activity and market participation.
The FinTech Lab continued to serve as an effective pathway for innovation, supporting firms in testing and scaling digital asset solutions before transitioning to the full regulatory regime.
Asset and Fund Management
The asset management sector within the AIFC experienced substantial expansion in 2025, reflecting increased market participation and growing investor demand for professionally managed investment vehicles. Assets under management increased to over USD 5.4 billion, while the number of investment funds reached 177, managed by 71 fund and asset managers. The sector remains one of the fastest-growing within the AIFC, with increasing diversification across hedge funds, private equity, venture capital and other specialised fund structures.
Capital Markets
AFSA supervised the market activities of 7 Market Institutions, including investment exchanges, clearing houses and crowdfunding platforms; and two multilateral trading facilities (MTFs). Investment intermediaries comprised 30 brokers and dealers licensed by AFSA and 55 foreign brokers and dealers recognized by AFSA. Client assets held by broker-dealer firms licensed by AFSA reached USD 10.1 billion, serving more than 300,000 clients in 2025.
In 2025, Astana International Exchange Limited (AIX), the sole licensed exchange operator within the AIFC, reached market capitalisation of USD 81.5 billion, $2.1 billion in trading turnover, and 215 new listings during the year.
International Trading System (ITS), the first MTF licensed by AFSA, expanded its offering to more than 3,200 tradable instruments, including equities, depository receipts and exchange-traded funds, reaching a total trading volume of over USD 14 billion.
This continued development reflects the growing depth, liquidity, and diversification of the AIFC capital markets ecosystem.
International Recognition and Cooperation
AFSA continued to strengthen its international engagement and cooperation with global regulatory bodies. During the year, AFSA actively engaged with the global and domestic regulatory community, participating in over 15 conferences and hosting or contributing to more than 10 outreach and stakeholder engagement events focused on fintech, digital assets, capital markets and AML/CFT supervision.
In 2025, AFSA joined IOSCO’s International Securities and Commodities Alerts Network (I-SCAN) – a global platform that enables regulators to exchange information and coordinate actions to combat online investment fraud and illegal financial activities. Participation in I-SCAN allows AFSA to contribute its public warnings to a global alert system and enhances its ability to protect investors.
The full Report is available at the Link.
Reference:
The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is 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 with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. aifc.kz
Public Relations and Communications Division of AFSA: [email protected]
