The benefits of reforming corporate governance laws for shareholders – Tejaratnews

According to Tejarat News, it was last week that the corporate governance guidelines of publishers registered with the Securities and Exchange Organization were announced.

Based on this, the stock exchange organization, in order to protect the rights of investors, prevent violations and organize and develop a transparent and fair securities market and according to clauses 2, 8, 11 and 18 of article 7 of the Securities Market Law of the Islamic Republic of Iran (approved by the Iranian Parliament in December 2014) Islamic) corporate governance guidelines for publishers registered with the Securities and Exchange Organization, which was approved by the Board of Directors of the Securities and Exchange Organization in six chapters, 43 articles and 28 notes on October 18 of this year, to all publishers registered with the organization The stock exchange and all the trusted audit institutions of the Stock Exchange and Securities Organization announced.

Due to this new instruction, the profit received by the shareholders is controlled and paid on time and correctly. This means that the dividends of major shareholders will not be deposited more than the profits of other shareholders.

What is the corporate governance of the stock market?

Corporate governance is a set of legal and financial rules and mechanisms, the implementation of which, while guiding and controlling companies and relations between shareholders, leads to effectiveness, efficiency, sustainable growth and financial stability of the company.

According to Article 31 of the new corporate governance guidelines, henceforth, in order to protect the rights of shareholders, the dividends of major and controlling shareholders should not be paid before other shareholders. Also, according to Article 7 of this regulation, the board of directors of the companies must disclose the details of the transactions while using the official expert report selected by the competent legal authorities in important transactions.

Many experts and legal activists of the capital market are of the opinion that some of the previous directives were set unrealistically and it was not possible to implement some of its clauses due to the special conditions governing many companies and the lack of provisions in the amendment bill of the trade law; In this way, we can mention the number of independent members of the board of directors, which should not be less than 20% of the total number.

Issues such as the formation of specialized committees and the review of transactions with related parties, which are emphasized in the new governance guidelines, can prevent the violation of the rights of shareholders, especially minority shareholders. The Stock Exchange Organization, as the body supervising the capital market, is obliged to monitor the strict implementation of the instructions by the persons under its supervision and deal with any violation of the principles of corporate governance and violations of companies, decisively and urgently without any tolerance or tolerance. .

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