Azerbaijan, Baku, November 4 / Trend N. Ismayilova /
The Azerbaijani State Committee for Securities has given special permissions for broker, dealer activity and a license for securities governance to a new company Xalq Kapital, the committee said.
According to the committee, the permissions have been given to conduct the above-mentioned activities on October 28 in accordance with the company's appeal to the committee.
At present, activity of issuers of securities has been separated from professional stock market participants' one.
Several Azerbaijani banks continued to operate as professional stock market participants till 2009.
The banks being issuers of securities can not operate as professional participants in accordance with the legislation. This practice is used worldwide.
After licenses of the banks expire, new permissions are given to their subsidiaries.
At present, about 14 licenses have been given for broker activity, 12 - for dealers' one, 3 - securities governance in Azerbaijan.
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