License of securities market participant canceled in Azerbaijan
Azerbaijan, Baku, March 29 / Trend /
The Azerbaijan State Securities Committee (SSC) canceled Iron Investments Azerbaijan's license. The license was annulled due to the company's failure to apply professional accounting regulations approved Oct. 19, 2007.
Dealer license №001357 and broker license №001259, which were provided to the company on Sept. 28, 2006, were suspended on March 14.
The license of AGBank's joint investment company was also canceled in March.
The bank will not prolong the license. Instead, the company will create a specialized subsidiary to perform activity on the securities market.
Of 33 professional participants on the market, 13 licenses were issued to broker companies.Do you have any feedback? Contact our journalist at: [email protected]