PRU (Investment Firms) 3.2: the definition of Capital Resources refers three times to "the Insurance Intermediary"

Rule 3.2(1)(a) counts the share capital "of the PRU Investment Firm", but 3.2(1)(c) counts retained earnings and reserves "of the Insurance Intermediary", and the deductions in 3.2(2)(b)(iv) and (v) refer to the pension fund assets and own shares of "the Insurance Intermediary". The intended meaning is clear from context, but the text names a different kind of firm. The Prudential Rules for Insurance Intermediaries now say "the Authorised Firm" in the same items.

Proposed correction

Please replace the three references to "the Insurance Intermediary" in PRU INV 3.2 with "the PRU Investment Firm".

Jurisdiction

Kazakhstan — AIFC

Act

AIFC Prudential Rules for Investment Firms (PRU INV), V7

Place

PRU(INV) 3.2(1)(c) / page 9

Record

Discrepancy

Class

Text of the act

Where it arose

The text of the act

Arxo's conclusion

Confirmed

Official text

Unchanged at last check

Last checked

2026-10-23

Evidence

Contradiction within the text. Quotations are verbatim from the official material; translations are ours and marked.

any retained earnings and reserves created out of earnings of past periods of the Insurance Intermediary

defined benefit pension fund assets of the Insurance Intermediary

investments by the PRU Investment Firm or by any of its Subsidiaries in the Insurance Intermediary's own shares

the ordinary equity share capital of the PRU Investment Firm, to the extent fully paid up

An Authorised Firm whose Licence authorises it to carry on the Regulated Activity of Insurance Intermediation.

How to check it without Arxo's tools

1. Open AIFC Prudential Rules for Investment Firms (PRU INV), V7 and find PRU(INV) 3.2(1)(c) / page 9; PRU(INV) 3.2(2)(b)(iv) / page 9; PRU(INV) 3.2(2)(b)(v) / page 9; PRU(INV) 3.2(1)(a) / page 9. Compare the text with the quotation above. A copy is kept in this register: 1d2d8c432b940719-pru-v7.pdf (SHA-256 1d2d8c432b94071987e1f351c1dd44b443f39d75aa8fc552c31d1c7051812e89, copy of the official file).
2. Open AIFC Glossary (GLO), V23 and find Glossary V23, 'Insurance Intermediary'. Compare the text with the quotation above. A copy is kept in this register: 041617346ad87a9f-glo-v23.pdf (SHA-256 041617346ad87a9ff3634eff95b3b92f65ee5f4965298a2c1137b8b9a8374b45, copy of the official file).
3. The finding holds if the quoted passages read as shown and the comparison gives the result stated at the top of this page. If it does not, write to us with the record ID.

How this finding was made

AI agents read the official texts, turned the provisions concerned into executable rules and ran the comparison; they also drafted this record. A person at Arxo checked the finding and approved the report before it was sent (2026-10-27).

Responsible institutions

• Astana Financial Services Authority (AFSA) — author of the AIFC Rules

Reported to

Responses

No response recorded.

History

1. 2026-10-23Confirmed by Arxo
2. 2026-10-27Entered in the register
3. 2026-10-27Reported to Astana Financial Services Authority (AFSA) (e-mail)

Cite this record

Arxo Law, Arxo Findings Register, ARXO-2026-0072, https://arxo.io/findings/ARXO-2026-0072/ (status as of 2026-10-23). Data: ARXO-2026-0072.json.