“Progress Partners” LLC’s special license for conducting brokerage and securities dealing services in the securities market has been invalidated by the Financial Regulatory Commission resolution #375. 

 

Based on “Law on legal status of Financial Regulatory Commission” article 6.1.3, “Law on Legal entities licensing” article 14.1.1, “Securities market law” article 34.1.4, FRC “Regulation on licensing of professional services in the market” article 8.2.1 the Financial Regulatory Commission invalidated “Progress Partners” LLC’s license for brokerage and securities dealing activities by its resolution #375 of October 23, 2013. 

 

The company clients will be transferred to other brokerage firm that conducts professional services in the market with license to broker-dealer related issues and it shall be governed according to the concerning jurisdiction and regulations. 

 

 

 

   Public Relations Department

MONGOLIAN STOCK EXCHANGE