Azerbaijan, Baku, Nov. 22 / Trend A. Akhundov /
The Azerbaijani State Securities Committee called the reason of suspending the license to manage the securities of "Unicapital" and "Standard Kapital".
"This is not connected with these companies' violating prudential norms and the requirements of the legislation," chairman of the Azerbaijani State Securities Committee Rufat Aslanli told media today. "This decision was made in connection with the expiration of these licenses and the lack of appeals for their prolongation."
According to the group of AB Standard companies, the Azerbaijani State Securities Committee suspended the license of "Standard Capital" upon the company's appeal.
"This decision was made by Standard Capital in connection with the lack of a sufficient number of the company's employees who have a license for this type of service," a statement said.
However, Standard Capital continues its activity in two main areas - broker and dealer on the basis of the license issued by the Committee.
The committee suspended the licenses for managing the licenses of "Unicapital" and "Standard Kapital" on November 19.
Thus, there are 15 licenses for brokerage activity, 14 for dealer activity, three for depository, one for clearing and one for activity on the stock exchange and two for keeping the register of securities holders in the Azerbaijani securities market.