Uncertified company detected on Azerbaijani securities market

Azerbaijan, Baku, March 12 / Trend /

The Azerbaijan State Securities Committee (SSC) encourages people to be careful when establishing a business relationship on asset management with the Invest-AZ LLC. The company is illegally engaged in professional activities on the securities market, the SSC said in a message on March 12.

State Committee's control over securities market revealed that the Invest-AZ was providing services through the Internet to the public (investors), reflecting professional activity in the stock market.

According to country's legislation, asset management services on the stock market should be certified. The services may be provided by legal entities and individuals who obtained a special permit to professional activities from the relevant executive power bodies.

"As the Invest-AZ is not licensed by the SSC, the company does not have the authority to work on the securities market and draw in people's money in any way. Correspondence of company's activities with the legislation is being investigated," the message said.