PAIMO Bailyk Withdrawn from KASE Membership
OREANDA-NEWS. On October 10, 2008 Pension Assets Investment Management Organization Bailyk Asset Management (Subsidiary of Eurasian Bank) (Almaty, in the heading and after - PAIMO Bailyk asset management (subsidiary of Eurasian bank) was removed from KASE membership in categories "K" and "P" by the decision of the Exchange Council of Kazakhstan Stock Exchange of October 9, 2008, reported the press-centre of KASE.
PAIMO Bailyk asset management (subsidiary of Eurasian Bank) is not a KASE member any more and therefore has no right to trade on the Exchange.
The decision has been made on the basis of order No. 363 of the Chairman of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations dated August 29, 2008 on termination of the license for conduct of pension assets management, broker and dealer activity on security market without right to maintain client accounts in the capacity of nominal holder and investment portfolio management through voluntary return of license to the authorized body.