FSA revoked investment portfolio management license and license for brokerage and dealing activities on securities market from Management Company Alem
/KASE, October 15, 10/ - Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (FSA) published on October 14, 2010 on its website see more the following information:
quote
By the Board of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (FSA) (hereinafter - the Agency) resolution of October 4, 2010 # 154 due to systematical (three and more times during twelve calendar months) breach of the laws of the Republic of Kazakhstan regulating activities on the securities market, a decision has been made to revoke from Management Company Alem its investment portfolio management license and license for brokerage and dealing activities on the securities market incorporating the right to run accounts as a nominal holder, issued by the Agency on July 11, 2007 under #0403200760 and June 4, 2007 under #0401201629 respectively.
unquote
[2010-10-15]