/KASE, April 6, 09/ - on April 3, 2009, the Agency of the Republic of Kazakhstan
on Regulation and Supervision of Financial Market and Financial Organizations
(AFS) published on its website at
http://www.afn.kz/cont/publish549643_7602.pdf
the press release # 135 "Concerning the information, published in article in the
article "Chie Chutie?" ("Whose instinct") of the newspaper "Vremya" of April 1,
2009 # 46 (819)":
Quotation start
On April 1, 2009, was published the article by A. Konovalov "Chie Chutie?"
("Whose instinct") in No. 46 (819) of the newspaper "Vremya". Concerning this
article content we informs on the following.
On February 27, 2009, the AFS Board decided to:
- suspend for three months the license of Almaty Investment Management for
investment portfolio management issued on September 30, 2005
# 0403200371;
- debar Almaty Investment Management of the license for brokerage and
dealer activities implementation with the right to keep clients accounts as the
nominee holder of September 30, 2005 # 0401201157.
Thus, from March 5, 2009, i.e. from the date of bringing of appropriate AFS
decisions to notice of Almaty Investment Management, the license effect is
considered suspended and terminated, accordingly.
The basis for making by AFS of above mentioned decisions were the result of
unplanned inspection of Almaty Investment Management activities, implemented
in January-February of the current year, during which were detected systematic
violations of norms of the legislation of the Republic of Kazakhstan, including
non- fulfillment of the prudential normative (own capital sufficiency
coefficient).
The mentioned information was published on AFS official website: www.afn.kz in
AFS press release # 127.
The article author refers to the fact that the information specified in the
article was received during an interview of the newspaper "Vremya" with AFS
Licensing Department Deputy Head Aiken NAZHIMETDINOVA. However, neither A.
Nazhimetdinova nor other AFS employees were interviewed on this issue by the
newspaper "Vremya" journalists.
Open Unit Investment Fund Kazyna (hereinafter - OUIF Kazyna) was founded by
Almaty Investment Management in April 2005 in compliance with the legislation of
the Republic of Kazakhstan, regulating investment funds activities. Almaty
Investment Management manages assets of the mentioned investment fund.
In compliance with requirements of the legislation of the Republic of Kazakhstan
open investment funds assets must be kept by a custodian-bank, which is not an
affiliate of the managing company. Halyk Savings Bank of Kazakhstan is a
custodian, which records and keeps OUIF Kazyna assets.
In conclusion we informs that the Agency sent the letter to the newspaper
"Vremya" editor V. Boreiko with the demand to refute the information, published in
was the article by A. Konovalov as the wrong one.
Quotation end
[2009-04-06]