Baku/25.12.13/Turan : The State Securities Committee (SSC) satisfied with the results of execution of the Action Plan for 2011-2013 provided by the State program of development of the securities market in Azerbaijan in 2011-2020 .
At the December 24 meeting to discuss the action plan , the head of the SSC Rufat Aslanli said that on 13.02.2011 , the task successfully resolved. He instructed the staff departments to take action on the grounds prescribed in 2014-2015 areas , said the sector PR SCS .
Sector leader Chingiz Huseynov refused to disclose Turan SSC plans for implementation of the State program for the coming years , advising the correspondent himself to read the document .
Following the advice , Turan acquainted with the provided plans and discovered that not everything is as smooth as it represents the SSC . Committee failed to implement in 2011-2013 , many of the planned tasks for the institutional development of the securities market , organization and promotion of financial intermediation and activities of collective investment schemes , support demand and supply on the securities market , as well as the increased use of corporate governance and financial reporting companies. For example , this year the SSC was to determine and apply the capital adequacy requirements for professional participants of the securities market . This year, the SC has not been possible to prepare proposals for the creation of a favorable tax regime for the securities market . SCS and the Central Bank has not yet been identified prudential requirements , to encourage the active participation of banks and insurance companies in the securities market . If you believe the state program , today the market would work in accordance to the Law " On the Securities Market ". However, where there is a draft of the legislation - is not known.
Note that in 2014-2015 SSC liaison with the other departments of audit work to be improved on the securities market , bringing bankruptcy proceedings securities market participants , in accordance with international experience , etc. - 08B-
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