OREANDA-NEWS. October 25, 2010. The Board of Kazakhstan Stock Exchange (KASE) sidelined Management Company Alem (Almaty) from trading securities on KASE, reported the press-centre of KASE.

The decision was made after the Management Company Alem had submitted a request to strip the company of the KASE membership and based on Resolution # 154 of October 4, 2010 of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (FSA) "On withdrawing the licenses for investment portfolio management activities and brokerage and dealing activities on the securities market with the right to run clients' accounts as a nominal holder, issued to joint-stock company Management Company Alem".

KASE Board of Directors' next meeting will consider a possibility of excluding Management Company Alem from KASE stock market members' list.

Earlier there was KASE news of October 15, 2010 "FSA revoked investment portfolio management license and license for brokerage and dealing activities on securities market from Management Company Alem" - http://www.kase.kz/en/news/show/1118703