Azerbaijani Professional Security Market Become More Law-abiding
Azerbaijan, Baku, 2 January / Trend corr. I.Khalilova / The Security Committee at the Azerbaijani Presidency forecasts an increase in the number of professional security market participants of the country to 40, Gunduz Mammadov, the head of the State Committee, reported on 22 January.
At present the security issuer is being separated from the professional stock market participants.
Some Azerbaijani banks will keep operating as professional security market participants until 2009. The banks being simultaneously security issuers cannot operate as professional participants as is world practice.
The banks receive licenses for implementing broker and dealer activity from their daughter structures.
Fourteen banks received licenses for brokerage, 15 - dealer, and others - register activity.
According to Mammadov, State Committee held eleven checks of professional participants of the market in 2007.