The term is used in Uzbekistan's legislation to designate organizations engaged in brokerage activities in the securities market. An investment intermediary executes client orders on the exchange, ensures settlements and reporting, and may perform issuer organization functions during placement.
Activities are subject to licensing. A list of organizations holding valid licenses is maintained by the authorized body and published, so the status of a specific company can be verified before entering into an agreement.
License possession means compliance with requirements for capital, employee qualifications, and procedures for handling client assets. It is not an assessment of service quality and does not guarantee investment returns.
The practical purpose of verification is straightforward: a contract with an unlicensed organization does not provide investors with the rights and protections they expect. Investment offers in securities from companies absent from the registry should be considered as elevated risk regardless of stated terms.