KLS Securities Renews Asset Management License
KLS Securiries LLC is happy to announce that the Kyrgyz Government Financial Markets Regulation and Supervision Agency (GosFinNadzor) today issued an Investment Asset Management License No 0149 to the company. The license was issued for an indefinite term.
This license is to replace an older license for ‘fiduciary asset management’ which the company held for years prior to the legislation change which re-formulated the definition of professional asset management and set new capital adequacy requirements for holding such a license.
KLS Securities LLC, being in full compliance with the new (much higher) capital adequacy requirements for the new license may continue its asset management business uninterrupted.
Vladimir Kiriusha, CEO of KLS Securities, comments: «Asset management is an important part of the group’s business and we welcome tougher requirements by the regulator as a means to keep up the quality of the Kyrgyz investment services market».