The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has prepared a draft resolution that would establish the operating framework for financial ombudsmen and the financial ombudsman service. The draft is intended to implement Kazakhstan’s law on the state regulation, control and supervision of the financial market and financial organizations, and would also cover how information on consumer complaints received and reviewed is reported to the competent authority. The proposal sets out procedures for the election, re-election and early termination of the Chief Financial Ombudsman and other financial ombudsmen, including candidate eligibility requirements, competitive selection procedures and the process for agreeing candidates with the competent authority. It also regulates the organization of the ombudsman service, the powers of the Chief Financial Ombudsman, internal control and personal data protection. For consumer disputes, it specifies how applications may be submitted, registered and reviewed, the deadlines for review, the ombudsman’s right to request documents and explanations, and the types of decisions that may be issued after рассмотрение dispute review.

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