Baku. Nijat Mustafayev - APA-Economics. Azerbaijan State Committee for Securities has identified a firm operating without a license in the country’s securities market.
The Committee said Inforex was found offering investors services which have attributes of professional activity in the securities market.
The firm’s website www.inforex.az offers professional asset (securities, foreign exchange instruments etc) management services through the account.
According to the legislation of Azerbaijan, customer portfolio management is considered a professional business in the securities market and is only possible if there is a license granted by a central regulatory body.
The Committee proceeded to analyze Inforex’s business in terms of compliance with the law.
Azerbaijan discovers a firm illegally operating in securities market
15 April 2009 09:37 (UTC +04:00)
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