The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has ordered the removal of four collector agencies from the collector agencies registry: Jibek Group Collector Agency LLP, Samuryk Collector Agency LLP, Cerera Collector Agency LLP, and AAA-Status Collector Agency LLP. The stated basis was that each entity had not carried out collector activity for 12 consecutive calendar months. Under Article 9 of Kazakhstan’s Law on Collection Activity, a collector agency that is removed from the registry must, within 30 calendar days of receiving the authorised body’s notification, complete a re-registration process to remove the words “collector agency” and any wording implying it conducts collector activity from its name. Within five calendar days of receiving the notification, it must also notify relevant creditors and other counterparties, including affected debtors whose debts or claims were transferred under debt recovery contracts or trust management arrangements.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-01-13
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan removes four collector agencies from the registry for prolonged inactivity
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has removed four collector agencies from the registry due to inactivity for 12 consecutive months. Under Article 9 of Kazakhstan’s Law on Collection Activity, these agencies must re-register to remove references to "collector agency" from their names and notify relevant creditors and counterparties within specified timeframes.