The Republican Agricultural Exchange has been left without a license for six months.

The Competition Committee has announced the suspension of the license issued to the Republican Universal Agricultural Exchange (RUAPB).

The regulatory authority filed a lawsuit demanding the temporary suspension of the document granted to the organization. The reason cited was "incomplete compliance" with the licensing requirements imposed on commodity exchanges.

According to the court's decision, the RUAPB's license has been suspended for a period of 6 months, reported the agency.

The law "On Licensing, Permitting and Notification Procedures" outlines the powers of the Competition Committee to license commodity exchanges, the agency reminded.

Previously, Spot reported that the Competition Committee imposed a fine on the mobile operator Ucell for violations of the law "On Advertising".

The Republican Universal Agricultural Exchange (RUAPB) was established in 1991. The organization conducts trading in raw materials, materials, and other goods for farms and the agricultural sector. Since 1998, it has been a member of the Union of Commodity and Food Exchanges of the CIS countries.