NSC of Kazakhstan revoked KBS Securities LLP license

/IRBIS, June 11, 01/ - PR department of the National Securities Commission of Kazakhstan (NSC) informed that by the resolution #843 of the NSC Directorate, dated June 11, 2001, the license #20030144 ,issued on April 6, 1998 to KBS Securities LLP to conduct brokerage and dealing activities on the stock market with the right to handle client accounts as a nominal holder, was revoked. It is said that the license has been revoked because on May 31, 2001 KBS Securities LLP informed by notification #2/7-155 that it can not eliminate the reasons that became the grounds for the NSC Directorate resolution #800 of March 19, 2001 to suspend the license. The NSC did not give the details of the reasons. Now, KBS Securities LLP is the member of the Kazakhstan Stock Exchange (KASE) under three categories, that give it the right to participate in trades in government and corporate securities at the KASE - "K", "P" and "H". By the decision of the KASE Board, dated March 20, 01, KBS Securities LLP was freed from participation in securities trades from March 21, 2001 and paying monthly membership fees from Apr 1, 01. This decision was made due to the suspension of the license by the NSC.