Financial organizations in Kazakhstan will begin reporting to the regulator on consumer complaints, reports Todayinfo news agency.
The Agency for Regulation and Development of the Financial Market has adopted a corresponding resolution, which will come into force on June 27. The new rules apply to banks, branches of non-resident banks of Kazakhstan, organizations carrying out certain types of banking operations, insurance companies, branches of non-resident insurance organizations, securities brokers, and microfinance organizations.
According to the resolution, the list of reports, report forms, and submission rules have been approved. Financial organizations will be required to submit two types of reports to the regulator: aggregated data on complaints from individuals and legal entities, and a report on financial consequences for clients based on the results of complaint reviews.
Reports will be submitted semi-annually – by the 15th day of the second month following the reporting period. Documents must be signed by the head of the organization or an authorized person and certified with an electronic digital signature. As specified in the document, reports must be stored in electronic format for at least five years from the date of the submission deadline.
