Unlicensed activity on asset management suspended in Azerbaijan

Photo: Unlicensed activity on asset management suspended in Azerbaijan / Business News

Baku, Azerbaijan, April 9
By Abbas Akhundov - Trend:

Azerbaijani State Securities Committee (SSC) has issued an order to suspend the activity of the Azerbaijani branch of Life Division LLC which is a part of the UK company İnnovative İnternational Group Ltd.

The LLC rendered services on asset management without receiving a relevant license, the state committee said on April 9.

The LLC was informed of the suspension of this activity on April 8, 2014.

The SSC urges investors which are customers or collaborators of the İnnovative İnternational Group Ltd holding or Life Division company, to consider the illegality of these companies' activities in the territory of Azerbaijan.

The list of the organizations operating on the basis of licenses is available on the following link:

http://scs.gov.az/new/?sec=mdata&mid=61&sid=81,79,116&lang=1.

Translated by L.Z.

Edited by C.N.

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