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Suspended the licenses of two professional participants of the securities market
State Securities Committee has suspended the license of Unicapital LLC and Standard Capital LLC for securities management. The reason for this step is not made public.
From this year the legislation has excluded the professional activity in the securities market and securities management. It was replaced by asset management.
Just before yesterday licenses for securities management had two companies, which lost their licenses. In one of the companies they told Turan that the suspension of the license term is associated with a reduction from three to two the number of employees in the company who have evidence of securities management. Under the legislation the company can manage the securities with three staff members with such evidence. And to get such a certificate is no longer possible, as a professional activity in the securities market and securities management is excluded from the legislation.
Today, in the securities market in Azerbaijan there are 18 companies that have 43 licenses of six professional activities. - 08D-
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