The Decree was issued by the President of the Republic of Kazakhstan dated 11 November 2019 №203 “On further improvement of state administration system of the Republic of Kazakhstan”, a new state body of the Republic of Kazakhstan, the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan (hereinafter referred to as the Agency), has been operating since January 1, 2020. The Agency is a state body, which provides a sufficient level of protection of the rights and legitimate interests of consumers of financial services. It also contributes to the stability of the financial system and the development of the financial market, carries out state regulation, control, and supervision of the financial market and financial organizations, as well as other people within their competence. The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan is defined as the assignee of the rights and obligations of the NBK in accordance with the transferred functions and powers.