Document Type : Article
Authors
1 Ph.D. Student in Public law, Yazd Branch, Islamic Azad University, Yazd, Iran
2 Associate Prof., Department of Law, Faculty of Law, Political Science and History, Yazd University, Yazd, Iran
3 Assistant Prof., Department of Law, Yazd Branch, Islamic Azad University, Yazd, Iran
Abstract
Regulation is one of the important economic roles of governments, which aims to determine market structures and rules and regulate the process of production and distribution of goods under the supervision of government regulations. The structures and rules set by the government make the financial institutions of a country subject to specific regulations, executive procedures, restrictions and instructions. But since governments are no longer the only actors in the economic arena, the role of other regulatory institutions is highlighted. The regulatory legal system has been introduced as a new axis in the field of governance by prioritizing the role of the private sector in the capital market, emphasizing soft rights and the variety of regulatory tools. This article tries to answer the question of what is the approach of the regulatory legal system in Iran's capital market from the point of view of self-regulation and government intervention. By examining and analyzing the components of the regulatory legal system, including regulatory organizations, dispute resolution mechanisms, and crimes and punishments; The challenges facing it have been examined in the context of Iran's capital market and with regard to various regulatory styles. The findings of the research show that the regulatory legal system in Iran's capital market is most close to the participatory regulatory style, and the government and the regulatory organization regulate the capital market in coexistence with each other.
Keywords
Main Subjects
English
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