OREANDA-NEWS. May 19, 2011. Azerbaijan has started curtailing activities of the companies established by banks for operations at the stock market.

The State Securities Committee of Azerbaijan says that on the basis of the relevant application of AFB Capital LLC it was stopped validity of licenses allowing it to work in the securities market: broker and dealer licenses granted on 25 December 2009 and license for securities management issued on 3 March 2010.

As a result, there are 13 brokerage, 12 dealer licenses, 3 licenses for securities management, 2 licenses for keeping securities registers, 3 depository licenses, by one clearing license and license for stock exchange.

AFB Capital was founded by bank AFB in a period of restriction for banks for transactions in the stock market. Today, such restrictions are absent in the country.