The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has adopted amendments to the rules on applying supervisory response measures, enabling it to impose coercive supervisory measures on insurance broker participants and shareholders that are included on lists linked to the financing of terrorism and extremism and or the financing of the proliferation of weapons of mass destruction. The changes are intended to prevent such persons and entities from holding controlling participation interests in insurance brokers’ charter capital or shares. The amendments were developed to implement the 30 June 2025 law updating financial-sector legislation and to reflect recommendations from international assessors following the second round of mutual evaluation of Kazakhstan’s compliance with Financial Action Task Force standards. They are designed to strengthen supervisory control over compliance with legal requirements to dispose of ownership interests when a participant or shareholder is added to the relevant lists. The amendments enter into force from 31 August 2025.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-08-26
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan amends supervisory response rules to enforce divestment of insurance broker stakes held by listed terrorism or proliferation financiers
The Agency for Regulation and Development of the Financial Market of Kazakhstan has amended rules to impose coercive supervisory measures on insurance brokers and shareholders linked to terrorism financing and weapons proliferation. Effective 31 August 2025, these changes aim to prevent such entities from holding controlling interests and align with international recommendations following Kazakhstan's compliance evaluation with Financial Action Task Force standards.