Glossary, "Operating a Loan Crowdfunding Platform": points to Schedule 3 of the Framework Regulations, which no longer exists

The entry reads "The Market Activity as defined in paragraph 4 of Schedule 3 of the Framework Regulations". Market Activities moved to Schedule 4 of the General Rules (Framework Regulations section 18(1)); the neighbouring entries were updated, this one was not.

Proposed correction

"The Market Activity defined in paragraph 4 of Schedule 4 of the AIFC General Rules."

Jurisdiction

Kazakhstan — AIFC

Act

AIFC Glossary (GLO), V23

Place

Glossary V23, entry "Operating a Loan Crowdfunding Platform"

Record

Discrepancy

Class

Amendments

Where it arose

The amending 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.

The Market Activity as defined in paragraph 4 of Schedule 3 of the Framework Regulations.

The Market Activity defined in paragraph 5 of Schedule 4 of the AIFC General Rules.

The activities specified in Schedule 4 of AIFC General Rules constitute Market Activities for

SCHEDULE 3: Market Activities

How to check it without Arxo's tools

1. Open AIFC Glossary (GLO), V23 and find Glossary V23, entry "Operating a Loan Crowdfunding Platform"; Glossary V23, entry "Operating an Investment Crowdfunding Platform". 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).
2. Open AIFC Financial Services Framework Regulations, V12 and find FSFR V12 s.18(1). Compare the text with the quotation above. A copy is kept in this register: 9c995b9be0e4359d-fsfr-v12.pdf (SHA-256 9c995b9be0e4359d9a595afe7d0a9d5d9f3a4597c3ee3255db2b2e1df520b5c3, copy of the official file).
3. Open AIFC Financial Services Framework Regulations, V4 and find FSFR V4 (2019) Schedule 3 heading. Compare the text with the quotation above. A copy is kept in this register: 36ea25af7085e201-fsfr-v4.pdf (SHA-256 36ea25af7085e2017194212da7b9a43757147bfc451ee042b934adf5621da93a, copy of the official file).
4. 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-2026-0065, https://arxo.io/findings/ARXO-2026-0065/ (status as of 2026-10-23). Data: ARXO-2026-0065.json.