To enter the securities market, professional participants now need at least 2 million KGS

On December 8, the Cabinet of Ministers approved a new version of the Regulation on regulatory capital adequacy ratios for professional participants in the securities market. The document significantly increases the minimum charter capital requirements for companies operating in the market—now it must be between 2 million and 15 million KGS, depending on the type of activity.

The reform was carried out in accordance with recent changes in securities market legislation, as well as within the framework of the Strategy for the Development of the Non-Banking Financial Sector for 2021–2025.

The resolution establishes a phased increase in capital by 2027–2028:

Trust management of investment assets

• by January 1, 2027 — 10 million KGS;
• by January 1, 2028 — 15 million KGS (the maximum threshold among all participants).

Dealer activities

• until January 1, 2027 — 3 million KGS;
• until January 1, 2028 — 5 million KGS.

Registry holders

• until January 1, 2027 — 4 million KGS;
• until January 1, 2028 — 6 million KGS.

Investment funds

• until January 1, 2027 — 2 million KGS;
• until January 1, 2028 — 3 million KGS (minimum threshold).

Thus, the minimum capital level for securities market participants varies from 2 to 15 million KGS, which is significantly higher than the previous requirements.

The increase in requirements is aimed at strengthening the stability of professional market participants, increasing investor confidence, creating a competitive stock market infrastructure, and preparing for future integration into the single financial market of the Eurasian Economic Union.