The Comparative Study of the Institutional Structure of Financial Market Regulation in Iran and Selected Countries with Look to the New Law of the Central Bank of the Islamic Republic of Iran

Boostani, Mansour; Ghasemi, Mojtaba

doi:10.48308/eclr.2025.236620.1075

The Comparative Study of the Institutional Structure of Financial Market Regulation in Iran and Selected Countries with Look to the New Law of the Central Bank of the Islamic Republic of Iran

Document Type : Original Article

Authors

Mansour Boostani ¹

mojtaba ghasemi ²

¹ Shahid Beheshty University

² Assitanteprofessor of Law.Shahid Beheshti University

https://doi.org/10.48308/eclr.2025.236620.1075

Abstract

Regulation of financial markets consists of four pillars of financial laws and regulations, the institutional structure of financial market regulation, the executive function of regulation, and the independence or convergence of regulatory institutions, among which the institutional structure of regulation is of special importance. After the occurrence of international financial crises, various countries have tried to redesign the institutional structure of their financial market regulation in order to prevent the recurrence of crises. In Iran, some destabilizing events have made many financial experts believe that the institutional structure of financial regulation should be redesigned. In this regard, the main issue that this article seeks to examine is the necessity of reviewing the institutional structure of financial market regulation in Iran with an attitude towards the experience of other legal systems. The main goal is to identify the main axes that should be taken into consideration in redesigning the institutional structure of financial market regulation in Iran by examining the models of the institutional structure of financial regulation at the international level. In this review, it is clear that the two main issues of "convergence and communication between financial regulatory institutions" and "strengthening macro-prudential supervision of financial market institutions" have been the most important axes of structural changes in different countries. By examining the institutional structure of financial market regulation in Iran, it is clear that this structure in Iran lacks a coordinating institution for financial regulation and a macro-prudential supervision institution for institutions in the money, capital and insurance markets.

Keywords

Economic Law"

Institutional Structure of Financial Regulation"

Financial Market"

Money Market"

Capital Market"

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