Kazakhstan Abolishes Two Financial Regulatory Bodies
22 April 2011
Kazakhstan has abolished two of its independent financial and securities regulatory bodies and has transferred their powers and functions to a third body. Specifically, the Agency on Regulation and Supervision of the Financial Market and Financial Organizations (the FMSA) and the Agency on Regulation of Activities of the Regional Financial Center of Almaty (the AR RFCA) were abolished effective 12 April 2011 pursuant to a Decree signed by the President on that date. The Decree transferred the powers and functions of the FMSA and the AR RFCA to the National Bank of Kazakhstan (the National Bank), the country's central bank.