Посты с тэгом: AFSA

The Astana Financial Services Authority (AFSA) is delighted to invite you to join the Regulatory Townhall meeting, to be held on 25 April 2024 at 11:00 Astana time via Zoom.

This Regulatory Townhall would be dedicated to the discussion of the practical aspects of the proposed updates to the AIFC legislation which were published for public consultation both on AIFC and AFSA websites. AFSA aims to get suggestions from the market on the proposed updates, proposals and amendments, as well as answer to the questions of the audience.

Agenda

Presentations:

– Tokenised Commodities Framework
Saliya Aligozhina, Senior Associate of the Policy, Strategy and Risk Division, AFSA

– Proposed Enhancements to the AIFC Asset Management Framework
Gauhar Kattabek, Senior Associate of the Policy, Strategy and Risk Division, AFSA

– Family Offices Framework
Madina Maimakova, Associate of the Policy, Strategy and Risk Division, AFSA

– AIFC Venture Studio framework
Beibut Dosmurzinov, Director of Legal Development Department, AIFC Authority

– Derivatives Framework, Enabling Margin, Short Selling and High Frequency Trading
Zarina Seidakhmetova, Senior Associate of the Policy, Strategy and Risk Division, AFSA.

You are kindly invited to REGISTER ONLINE by 09:00 Astana time 25 April 2024.

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.

Over 2,500 firms from 78 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.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. https://aifc.kz/

Contact information:

Public Relations and Communications Division of AFSA:

+7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]

The Astana Financial Services Authority (AFSA) has issued the Consultation Paper on proposals to Derivatives Framework, Enabling Margin Trading, Short Selling and High Frequency Trading to seek public’s opinion and market interest in these framework and trading methods.

The proposals in this paper will be of interest to:

a) Authorised Firms, such as dealers or brokers, who offer or plan to offer to their clients derivatives trading, margin trading, short selling;
b) Authorised Firms which arrange, advise or plan to offer such activities on derivatives trading, margin trading, short selling;
c) Authorised Persons who operate an exchange platform, multilateral or organised trading facilities in relation to derivatives and short selling operations;
d) persons interested in applying for an AFSA Licence to conduct the activities referred from a) to c) above;
e) Authorised Firms using high frequency trading method;
f) other industry participants, such as ancillary service providers or those who intend to provide such services to regulated firms from a) to e) above; and
g) persons who obtain, or intend to obtain, the services from firms as referred to from a) to e) above.

The Consultation Paper consists of:

Part I – Introduction;

Part II – Overview of existing markets;

Part III – Proposed Approach and Public Consultation Questions;

Part IV – Summary of Public Consultation Questions.

We invite comments from interested stakeholders.

The deadline for providing comments is 17 May 2024. Once we receive your comments, we shall consider if any refinements are required to this proposal.

AFSA prefers to receive comments by email at [email protected].

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.

Over 2,500 firms from 78 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.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. https://aifc.kz/

Contact information:

Public Relations and Communications Division of AFSA:

+7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]

The Astana Financial Services Authority (AFSA) informs that the licences of Xignal&MT ltd. expired on 28 March 2024. Prior to that on 24 November 2023 AFSA suspended the licences of Xignal&MT Ltd. due to compliance failures, and the firm’s operations have since been stopped while AFSA was reviewing the firm’s processes, before the licence expired in March 2024.

AFSA aims to create equitable and transparent financial and capital markets. Within this environment, both individuals and institutions are expected to uphold integrity and adhere to the highest levels of regulatory standards, which form the foundation of Astana International Financial Centre (AIFC).

If you would like to provide any information regarding Xignal&MT Ltd. please contact AFSA via the following contact details: [email protected], [email protected].

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.

Over 2,600 firms from 78 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.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. https://aifc.kz/

Contact information:

Public Relations and Communications Division of AFSA:

+7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]

The Astana Financial Services Authority (AFSA) has issued this Consultation Paper to seek suggestions from the market on the Proposed introduction of the AIFC Venture Studio Framework and respective amendments to the AIFC Fees Rules.

We invite comments from interested stakeholders.

Venture Studio is an organisational framework for creating and launching new startup ventures. Unlike traditional venture capital firms that primarily invest in existing startups, venture studios actively conceive, develop, and launch their own startup ideas from scratch.

The deadline for providing comments on the proposed framework is 17 May 2024. Once we receive your comments, we shall consider if any refinements are required to this proposal.

We prefer to receive comments by email at [email protected]

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.

Over 2,600 firms from 78 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.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. https://aifc.kz/

Contact information:

Public Relations and Communications Division of AFSA:

+7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]

The Astana Financial Services Authority (AFSA) has issued 17 licences in the first quarter of 2024, including authorised firms in the full regulatory regime, FinTech Lab participants and Ancillary Services Providers (ASPs).

Most of the licences issued over this period relate to investment companies and Ancillary Services Providers. The significant increase in interest in investment activities in the AIFC highlights the upward trend in the sector.

Among the firms which obtained a licence to provide investment services are: Aspan Prime Capital, VPE Capital Fund Management, One Capital Ltd, Aquila Management Ltd, SQIF Am Ltd and JAS Ventures Limited. These firms offer a wealth of opportunities in terms of the geography and areas of investment. For example, JAS Ventures Limited is focused on venture capital funds investing in start-up enterprises that demonstrate innovative solutions, significant scalability, and the potential for substantial growth and market penetration on an international level. Estimates show that the aggregate value and volume of venture capital transactions in Kazakhstan between 2018 and 2022 totaled $87 million across 175 deals, illustrating a consistent annual growth trend.

Aquila Management Ltd is going to focus on investing in projects located in Kazakhstan, the CIS (Commonwealth of Independent States), China, India, Southeast Asia, Persian Gulf countries, and Turkey. The firm’s investment strategy involves acquiring partial or complete ownership in small and medium-sized companies within these regions.

One other example is VPE Capital Fund Management Limited. Its strategy will lie in investments into individual creativity, skill and talent with a potential to boost creative economy of Almaty.

Cepheus Pay Limited joined a community of FinTech Lab participants in the first quarter of 2024. In general, there are 17 companies currently operating within the regulatory sandbox, including such crypto “A-listers” as Binance, Bybit, Bitfinex Securities and others.

Emphasising the importance of this achievement, Cepheus Pay Group Chairman Izmir Ismayilov stated, “Obtaining the Providing Money Services licence from the AIFC marks a crucial milestone in our expansion strategy. It highlights our dedication to meeting the highest standards of compliance and operational integrity. This licence is a testament to the innovative financial solutions we are committed to delivering.”

Ancillary Services Providers (ASPs) are an important supporting industry that ensures that the required infrastructure is in place for firms to operate efficiently for the benefit of the market. In the first quarter 2024 AFSA licenced ten ASPs, which is 30% more than the overall 2023 result. Among the new licenced ASPs there are: Squire Patton Boggs Kazakhstan Ltd., Branch of SFAI Kazakhstan in the AIFC, Branch of Moore Kazakhstan LLP in the AIFC, Nexus For Success Ltd., B&G Solutions Ltd., FI.CENTER Ltd., Amicorp Kazakhstan Limited, Branch of “Independent Audit Company “Centeraudit-Kazakhstan” Limited Liability Partnership in the AIFC, AnalyticaPro Solutions Ltd, and Branch of Scope Audit Kazakhstan LLP in the AIFC.

Most of the new ASPs are those providing consulting and audit services, followed by legal services providers. This trend is explained by the arrival of large big-name companies, which has understandably led to an interest in AIFC from an increased number of Ancillary Services Providers.

Meanwhile, the total number of AIFC participants registered in the first quarter of this year stands at 224 – twice as many as in the same period 2023 – bringing the total to 2,619.

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.

Over 2,600 firms from 78 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.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. https://aifc.kz/

Contact information:

Public Relations and Communications Division of AFSA:

+7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]

This alert by the Astana Financial Services Authority is to remind the public of the importance of exercising caution when selecting Digital Assets Services Providers (DASPs) for digital asset transactions and investments, especially considering the growing popularity of digital assets and blockchain technology.

When choosing a DASP for your digital asset needs, it is important to check whether the DASP is authorised by the Astana Financial Services Authority (AFSA). AFSA is the only regulator of digital assets services providers in Kazakhstan.

Consumers may verify the legitimacy of firms by accessing the public register https://publicreg.myafsa.com/, which allows consumers to check if the companies that they are considering to use are authorised and compliant with regulatory requirements. This simple step ensures that consumers can make informed decisions and trust that they are engaging with reputable and trustworthy businesses. AFSA-authorised providers are held to high standards of compliance, accountability and consumer protection.

To report any concerns or suspicious activities please visit this link https://afsa.aifc.kz/en/report-a-scam-or-unauthorised-firm.

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.

Over 2,500 firms from 78 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.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. https://aifc.kz/

Contact information:

Public Relations and Communications Division of AFSA:

+7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]

The Astana Financial Services Authority (AFSA) has issued the Consultation Paper on the proposed AIFC Tokenised Commodities framework (“Framework”) to seek suggestions from the market.

The Framework consists of the proposed amendments to the current AIFC Rules and Regulations for the purpose of extending of the AFSA regulatory perimeter and bringing tokenised instruments linked to commodities under its umbrella.

The proposals in this paper will be of interest to current and potential AIFC Participants involved in stablecoin-related activities, dealing with tokenised commodities, as well as to market participants and other interested parties.

The Consultation Paper consists of:

Part I – Background;

Part II – Proposals;

Part III – Public Consultation Questions;

Annex 1 – Draft Amendments to AIFC Glossary (GLO);

Annex 2 – Draft Amendments to AIFC Digital Asset Activities Rules (DAA);

Annex 3 – Draft Amendments to AIFC Financial Services Framework Regulations (FSFR);

Annex 4 – Draft Amendments to AIFC Authorised Market Institutions Rules (AMI);

Annex 5 – Draft Amendments to AIFC Conduct of Business Rules (COB); and

Annex 6 – Draft Amendments to AIFC Fees Rules (FEES).

In the course of public consultation, existing and potential market participants are invited to comment on the questions reflect in Part III of the Consultation Paper.

The deadline for providing comments is 25 April 2024. Once we receive your comments, we shall consider if any refinements are required to this proposal.

AFSA prefers to receive comments by email at [email protected].

To get acquainted with the Consultation paper, please follow this link.

The Astana Financial Services Authority (AFSA) has issued a Consultation Paper on the proposed AIFC family offices framework to seek suggestions from the market.

The proposals in this paper will be of interest to families or entities who are looking for an attractive base to establish family offices. In particular, family businesses, legal advisors, advisers to families, and wealth managers.

The Consultation Paper consists of:

Part I – Background;

Part II – Proposals;

Part III – Public Consultation Questions;

Annex 1 – Proposed Amendments to the AIFC Rules.

During the public consultation, both existing and potential market participants are invited to comment on the questions outlined in Part III of the Consultation Paper.

The deadline for providing comments is 25 April 2024. Once we receive your comments, we shall consider if any refinements are required to this proposal.

AFSA prefers to receive comments by email at [email protected].

To get familiarised with the Consultation Paper, please follow this link.

The Astana Financial Services Authority (AFSA) invites all Digital Asset Service Providers (DASPs) authorised in its FinTech Lab to test new types of products and services involving digital assets. The new types of digital assets may involve margin trading, peer-to-peer, derivatives trading, staking, non-fungible trading, digital asset loans and other services. This list of services is a living document and may change given the evolving nature of DLT-related technologies.

To set out its approach to this initiative, AFSA has issued the respective Notice link.

If you as a lincenced DASP are interested to launch and test your new product or services, as a first step please contact AFSA by reaching out to a relevant case officer for further guidance. Meanwhile, those willing to start authorised operations and simultaneously test new products and services in the AIFC need to contact AFSA via the following contact details: +7 (7172) 64-73-72 or [email protected].

This call for a trial run of new products and services comes after two years of key developments in the digital assets industry in AIFC and Kazakhstan. AFSA along with the state authorities of Kazakhstan completed several significant projects to test the operations of DASPs and developed a comprehensive regulatory framework for providing digital asset services in the AIFC.

Notably, the key driver for the developments in the digital asset sector in the AIFC was the launch of the pilot project testing fiat gateways between AIFC cryptoexchanges and commercial banks of Kazakhstan in June 2022. The 1,5 year-long pilot successfully ended in 2023, and provided feedback that was instrumental in the development and enactment of the comprehensive crypto regulatory framework in AIFC. The results of the pilot project also laid down robust regulatory foundation for DASPs and now serve as a leverage for DASPs and AFSA for further crypto innovations in the AIFC.

AFSA Chief Executive Officer Nurkhat Kushimov said: “We witness global rapid development of the DLT-related technologies, a wider trend in assets tokenisation and offerings of the multitude of financial services involving digital assets. Our communication with the market and the feedback that we receive from it show that there is increased demand to expand such services. We at AFSA are committed to further support this demand in a secure way by testing new products and services in the protected environment of out FinTech Lab.

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.

Over 2,500 firms from 78 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.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. https://aifc.kz/

Contact information:

Public Relations and Communications Division of AFSA:

+7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]