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

The regulatory body has filed a lawsuit demanding the temporary suspension of the document issued 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 license has been suspended for a period of 6 months, the agency reported.

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

Updated: Later, the Competition Committee stated that the decision to suspend the exchange's license would take effect after the expiration of the appeal period in court for parties disagreeing with the agency's ruling.

Earlier, 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.