Analysis of Legal Framework of Self-regulatory Organizations in Iran’ Capital Market with Comparative Study in the US Legal System

Ansari, Ali; Isayi Tafreshi, Mohammad; Hossaini, Seyed Milad

doi:10.22059/jfr.2013.51074

Analysis of Legal Framework of Self-regulatory Organizations in Iran’ Capital Market with Comparative Study in the US Legal System

Document Type : Research Paper

Authors

Ali Ansari ¹

Mohammad Isayi Tafreshi ²

Seyed Milad Hossaini ³

¹ Assistant Prof. of Law, Kharazmi University, Tehran, Iran

² Prof. of Law, Tarbiyat Modares University, Tehran, Iran

³ M.Sc. Student in Private Law, Tarbiyat Modares University, Tehran, Iran

10.22059/jfr.2013.51074

Abstract

In this paper, it’s been tried to examine the legal
framework of self-regulatory organizations in Iran and the US’s
capital markets and to clarify this matter in Iran and the US (as the
innovator of self-regulation method in some way for setting rules and
regulations), with emphasis on laws and practices. To achieve this
purpose, we analyzed this matter from the most important angles;
Therefore, in this paper we examined legal origin of self-regulatory
organizations, their nature, the way they are formed, suspended and
disbanded, the authority for regulating and making rules, adjudication
and authorities investigating members’ (regulatory and criminal)
offences. Besides discussing the issues above in detail, we come to the
conclusion that the US legal system in this context is similar to Iran,
except for a few minor differences.

Keywords

Devolving Powers

law

Securities Market

Self-Regulation

Self- Regulatory Organizations (Sros)