OREANDA-NEWS. November 03, 2011. Kazakhstan Stock Exchange (KASE) Board of Directors by its decision of October 27, 2011 approved changes and additions # 1 (the amendments) to KASE internal document "Regulations on Committee for Foreign Currencies Market" (the Regulations), reported the press-centre of KASE.

The amendments will be submitted to the Committee on Regulation and Supervision of Financial Market and Financial Organizations of the National Bank of the Republic of Kazakhstan (FSC NBK) for approval and will be given effect after their approval with the authorized agency.

The amendments were made for purposes of:

- editorial clarification due to elimination of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations with its functions transfer to the National Bank of the Republic of Kazakhstan;

- clarification of objectives and functions of the Committee for Foreign Currencies (the Committee);

- streamlining of the Committee members election procedure;

- defining the new procedure of the Committee members election due to termination from July 1, 2011 of publication of KASE members activity rankings on the foreign currencies market.

KASE reminds that the Committee is a permanent out-of-structure body of  KASE with the main task of detection of incidents of insolvency involving members of the foreign currencies market, and in case of need, taking decisions on their transfer from the urgent mode into the mode of preliminary delivery of foreign currency being sold and/or payment for foreign currency being
bought.

The Regulations revised text will be available on KASE website at http://www.kase.kz/files/normative_base/currency_com_eng.pdf after approval with FSC NBK.