Mohseni’s criticism is an expression of unconventional interference in stock trading
According to Fars News Agency, following the recent order of Hojjat al-Islam wal-Muslimin Mohseni Ejei, head of the Judiciary to the General Inspectorate to update previous reports on stock market issues and possible violations, the board of directors of the Exchange and Securities Organization met with the head of the Judiciary. کردن.
At the beginning of the meeting, Hojjatoleslam and Muslims, Mohseni Ejei spoke about the importance of the capital market and the stock market and said: “By welcoming the stock market, there was a good opportunity for the government and the people and this opportunity should not be lost with improper performance.” In the stock market, people’s concerns will be resolved as soon as possible and people will be able to continue working in the stock market with hope.
The tremendous growth of the stock market index in 1998 and 1999 was irrational
The head of the judiciary, stating that it is obvious that the capital market, like many other trading markets, has profits and losses, added: And it was irrational, and for this reason, many sympathizers and the General Inspectorate and the Attorney General’s Office warned the relevant authorities in writing and orally, and pointed out the cases of violation.
Hojjat-ul-Islam and Muslims Mohseni Ejei, referring to the concerns about the stock market fall in the country, said: “Capital market monitoring efforts and dimensions should be strengthened so that the opportunity of the capital market is not turned against it.”
The head of the judiciary also announced the full readiness of the judiciary to help the government and the stock exchange organization to eliminate the injuries and problems of the stock exchange.
Hojjat-ul-Islam and Muslims Mohseni Ejei stated that with the unusual increase of the stock index and advertisements in 1998 and 1999, a large number of people received about 60 million stock codes without sufficient knowledge and familiarity. It did not do well and in this atmosphere, some people entered the entire stock market and some people even took funds from their relatives and acquaintances and entered the stock market, and now there is an additional problem for this category. Is.
Exceptional missed opportunity
In this meeting, “Majid Eshghi”, the head of the Stock Exchange and Securities Organization, also said: “The entry of people’s capital into the stock market during 1998 and 1999 created an exceptional opportunity for listed companies and the country’s economy to prosper, but unfortunately because the technical and legal infrastructure And inadequate supervision in line with this influx of capital into the stock market created risks.
The head of the Exchange and Securities Organization also cited “liberalization of the second part of the stock of justice”, “lack of complete technical and legal infrastructure”, “reduction of existing liquidity by the actions of the then government” and some other factors as reasons for the stock market collapse.
Eshghi further assessed the current situation of the stock market as positive and promising and said: “Recently, the profits of listed companies have increased and this is confirmed by the monthly financial statements that listed companies provide to the listed organization and this process, we He concludes that he should not worry.
Hojjat-ul-Islam and Muslims Mohseni Ejei, after the love remarks of the head of the Stock Exchange and Securities Organization, asked the question: What plans does this organization have to strengthen the infrastructure, and in particular to monitor and build trust among the people?
Eshghi also replied: “By the end of the year, by upgrading and strengthening the technical and supervisory systems, all effective financial flows in the capital market will be monitored and identified as soon as possible, and through this, many injuries and risks will be prevented.”
The legal department of the stock exchange organization is not efficient
In this meeting, Hojjatoleslam and Muslims Montazeri, the Attorney General, also stated: “Since 1997, we have given warnings and warnings to the relevant officials of the stock exchange, including the Minister of Economy, and it seems that the legal department of the stock exchange organization is not efficient enough.”
The Attorney General considered it necessary to organize the meetings of justice stock companies and said: in the recent meeting of the Supreme Council of the Stock Exchange, a three-month opportunity was set for this.
During the meeting, the Deputy Head of the National Inspection Organization also referred to the warnings and reports of this organization to the relevant officials of the Exchange Organization during the last two years.
Objective criticism of stock market market ambiguities
Hojjat-ul-Islam and Muslims Mohseni Ejei continued: “The issues raised by the head of the Stock Exchange and Securities Organization and the Attorney General are under investigation and action, but I see differences between the stock exchange process in our country and other stock exchanges in the world, considering official and public reports.” It can cause rent and abuse of some people and harm others, so I will mention some cases and I hope that the National Inspection Agency and the officials of the Stock Exchange and Securities Organization will thoroughly investigate these issues and take appropriate action.
In this regard, the Chief Justice referred to “showing the buying and selling queue in the stock exchange”, “interference of stock exchange observers in the process of buying and selling shareholders” and “buying shares with the stock code of real people by legal funds” and added: “These cases are ambiguous.” That the members of the board of directors of the stock exchange organization should clarify and remove ambiguity in relation to it.
Why is the buying and selling queue displayed in the Iranian stock exchange?
The head of the Judiciary also stated regarding the display of buying and selling queues in the stock exchange: Although the buying and selling queues are not displayed in the conventional stock exchanges of the world, why is the buying and selling queue displayed in the Iranian stock exchange?
Hojjat-ul-Islam and Muslims Mohseni Ejei added: “Unconventional interventions are made by stock exchange observers in the purchase and sale of shares, and things are imposed on real and legal shareholders, and supposedly a symbol is closed without regulation without any explanation.”
The head of the judiciary, referring to the access of brokerages and the stock exchange organization to all rows and orders of supply and demand, said: “This is while ordinary shareholders can view a maximum of 5 rows of orders online.”
Hojjat-ul-Islam and Muslims Mohseni Ejei continued: It has also been seen that the funds participate in the stock exchange with the real codes that they have invested in the fund instead of the stock exchange code of the fund or give the real codes of the fund to others and they participate in the stock exchange.
The head of the judiciary said that all these cases can cause rent-seeking and corruption, adding that all these cases should be clarified.
Preparation of the judiciary to eliminate stock market injuries
At the end of the meeting, the head of the Judiciary asked the inspection organization to follow up the issues seriously and told the board of directors of the Exchange Organization: You are obliged to identify, summarize and eliminate injuries and deficiencies, and if the judiciary needs help, be sure to help. We do, and if you believe that the penalties are insufficient in this regard, state on a case-by-case basis that the necessary action is taken.
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