.jpg)
In this new Act, the "Stock Exchange Council" will be the highest authority and will be responsible for all related policies, market strategies, and supervision of the market. Chairman of the Council will be the Minister of Economics; other members are: Minister of Trades, Governor of the Central Bank of Iran, Managing Director of the Chamber of Commerce, Attorney General, Chairman of the Securities and Exchange Commission, Representatives of the Associations, 3 financial experts requested by the Economic Minister and approved by the Council of Ministers, and one representative for each commodity Exchange.
Meanwhile, the Securities and Exchange Commission will be responsible for the administration and supervisory duties, governed by the Board of Directors. The Commission’s Board of Directors will be elected by the Stock Exchange Council.
Considering the new structure, Stock Exchange, OTC Markets and Commodity Exchanges will operate as self-regulatory institutions. Based on this new law, the TSE will be re-structured and will go incorporated.
Briefly, the difference between the old and the new Law can be described as:
- Supervision and operation will be separated.
- Primary market will be more regulated.
- Introducing new instruments will become possible.
- Insider trading will be punished.
- The Exchange will be incorporated.
- Central Depository System will be established.
