National Bank withdraws investment portfolio management and stock market brokerage licenses from Almaty Financial Center

16.09.11 13:38
/KASE, September 16, 11/ - The Committee on Regulation and Supervision of Financial Market and Financial Organizations of the National Bank of the Republic of Kazakhstan (FSC NBK) has released the following communique of September 14, 2011 on its website http://www.afn.kz: quote According to results of a regular check of the joint-stock company "Almaty Financial Center", taking into account systematic violation of requirements set in laws of the Republic of Kazakhstan regulating activities on the stock market, the Management Board of the National Bank of the Republic of Kazakhstan issued on August 26, 2011 resolution No. 103 withdrawing from the "Almaty Financial Center" stock market brokerage and dealing license # 0401201215 of June 21, 2006 associated with the nominee's right to run client accounts and investment portfolio management license # 0403200447 of June 21, 2006. It should be noted that the validity of the said licenses is deemed terminated from the day the said resolution was received by the joint-stock company "Almaty Financial Center", and namely from September 14, 2011. unquote [2011-09-16]