9 Proposals of the Brokers ‘Association to amend the Capital Market Law / to establish a real shareholders’ association

According to the economic correspondent of Fars News Agency, considering that the plan to amend the securities market law of the Islamic Republic is being drafted in the Islamic Consultative Assembly, the draft of this plan has been presented to offer suggestions and amendments to experts and capital market activists.

محمدرضا Poorabrahimi The head of the economic commission of the parliament announced yesterday in the commodity exchange: the plan to amend the Iranian capital market law has been finalized in the specialized committee of the economic commission and will be presented to the parliament soon with the approval of the commission.

He said: “Before the approval of this plan in the Economic Commission, the text of this draft will be published for experts and market activists and two weeks will be considered for the amendment proposals to reach this commission and then this text will be presented to the main court for final approval.” .

In this regard, the Stock Exchange and Securities Brokers Association today, Wednesday, December 1, 1400, in a letter signed by Mohammad Reza Dehghani, Ahmadabad, Secretary General of the Association, addressed to members of the Stock Exchange Brokers Association and managers and capital market activists: Iran approved Working group Capital Markets Specialization of the Economic Commission of the Islamic Consultative Assembly is attached. The main amendments proposed by the Commission are as follows.

1- Presence of the head of the stock exchange organization in the meetings of the cabinet

2- Introducing the Supreme Council of the Stock Exchange, the members of this council and the scope of their duties and powers

3- Legislation on the development of culture and education of the capital market through responsible institutions such as the Radio and Television Organization

4- Compiling and preparing a document to promote Iran’s financial and economic knowledge

5- The law ‌Mending Activity ذی‌Benefits Capital market in cyberspace

6- Allocating 10% of the net profit of the Exchange and Securities Organization to the Capital Market Stabilization Fund

7- Establishment of project funds at the national level

8- Requiring related companies to offer products in Iranian commodity and energy exchanges

9- Establishment of a real shareholders’ association

Letter from the Brokers Association

According to the letter, they are requested to send their views on the proposed amendments of the Commission or to add clauses in order to strengthen and develop the role and position of the capital market in writing by Tuesday, January 28, 2014 at the latest.

end of Message / b

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