Azerbaijan, Baku / Trend corr S. Babayeva / The Azerbaijan State Securities Committee at the Azerbaijani President's Administration did not reveal any serious shortcomings in the work of a range of securities market's professionals, the Chairman of the State Securities Committee, Gunduz Mammadov, reported at a press conference on 14 September.
"The market has expanded and we considered it necessary to hold check-ups," he said.
No serious law violations, such as implementation of risk operations and price manipulation were revealed during the check-ups, Mammadov noted. The revealed shortcomings were mainly regarding procedure issues.
"We gave eight recommendations regarding the removal of the revealed disadvantages," he said.
Between January and August, the State Committee inspected 468 JSCs for protection of investors' rights. Over 120 fines in the sum of AZN 27mln were issued, according to Mammadov.