TEHRAN- The head of Iran’s Securities and Exchange Organization (SEO) mentioned the measures taken by this organization in the past Iranian calendar year 1401 (ended on March 20), and explained the priorities and key plans of the SEO in 1402.
In a message on the occasion of the New Year, Majid Eshqi wrote:
In 1401, one of the main goals of the SEO was to protect the rights of investors and restore their confidence in the capital market. In this regard, various programs were targeted and implemented: (1) Development and improvement of intelligent monitoring systems in market sectors and financial institutions, (2) Payment of interest through the comprehensive customer information system of Sejam, including annual and annual profits, so that small shareholders can ensure that they receive their profits at the lowest cost, (3) Launching new investment instruments, including certificates of deposit of gold bullion, crude oil and gas condensate, so that small shareholders can invest in basic and relatively inflation-proof assets in small amounts, (4) Diversification of investment funds to cover the tastes and needs of a wider range of retail investors, (5) A jump in the licensing of financial institutions with the aim of improving the competitive environment and increasing the quality of customer service, (6) Building trust through the promotion of the Capital Market Stabilization Fund’s status and introducing the shareholder portfolio insurance plan for retail investors, (7) Improving market micro-structures such as increasing the range of volatility with the aim of smoothing the market flow, and (8) Issuing new guidelines for corporate governance in order to protect the rights of shareholders by publishers. Today, we can say with pleasure that the trust of small shareholders has been significantly restored as a fundamental step towards popularizing the economy.
In addition to the above actions, the Securities and Exchange Organization has always tried to lay the ground for the continuation of sustainable growth and increase the efficiency of the capital market by carrying out structural reforms, and in this regard, five key programs are prioritized:
1- Indirect investment development: In the past year, a good amount of diversity was created in indirect investment instruments, especially investment funds, and we continue to focus on deepening these new and efficient instruments and promoting them for the investors.
2- Creating a platform for transparent and diverse financing: By defining technical and legal infrastructures to facilitate micro and macro financing by the private and non-governmental sector, a new chapter of financing projects and businesses was established, and the government was able to implement its plan to transfer the shares of companies along with the transfer of operational management without harming the capital market. The initial offering of shares of businesses based on new technologies was also a big step towards the financing of knowledge-based companies, which will be followed seriously in the current year in a higher volume and of course according to the market capacities.
3- Smart regulation and monitoring: The organization’s new approach in smart and preventive monitoring, along with the launch of systems for speeding up the handling of complaints, promises a new move that will greatly help to reduce violations in this market by formulating the necessary regulations in the amendment of the stock market law.
4- Revision of the regulatory infrastructure: Due to the necessity of implementing professional and uncomplicated principles and rules in the direction of the sustainable development of the capital market, in addition to the measures taken in order to amend the corporate governance guidelines for publishers and the guidelines for identifying and reporting the confidential information holders in the organization, some reforms, which need the changes in the stock market law, have also been considered in cooperation with the legislator, which will definitely ensure the long-term interests of the capital market.
5- Derivative market development: Some basic measures in the field of capital market infrastructure and also in the field of designing derivative instruments with the aim of making the market two-way and providing risk management instruments for market participants were implemented in the past year, and therefore there is full readiness and determination to make these efforts come to fruition with the introduction of new derivative instruments, especially in the stock market, from the beginning of this year.
In 1402, while pursuing the aforementioned long-term plans, the Securities and Exchange Organization intends to provide the basis for the double growth and prosperity of the capital market through facilitating the establishment of project public companies, activating the capacity of credit rating companies, especially in line with the development of the bond market and fixed income funds, and generating government assets through the real estate board , capacity building for the issuance of debt securities that can be converted into shares, introduction of various commodity funds, and finally the development of the online verification platform of assets.
Original News : https://www.tehrantimes.com/news/483172/SEO-head-announces-priorities-key-plans-of-his-organization
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