Russia’s Federal Financial Markets Service nullified the license of ZAO Gazinvest which allowed the company to deal in brokerage and dealing operations as well as to perform securities transactions,
The Service reports the license was annulled because the company turned out to be guilty of repeated offense of the Russian Federation securities legislation; the violations occurred over the course of one year and consisted, among other things, in failing to comply with the regulatory legal acts issued by the federal executive body in charge of the securities market.