SEO After Transparency in Stock Market Trades
IRAN NEWS ECONOMIC DESK
TEHRAN – New Head of Iran’s Securities and Exchange Organization (SEO) in his first press conference yesterday said SEO is the custodian of transparency in the stock market and it should increase its responses to those who are involved in the stock market and this can enhance transparency in the stock market trades.
Hassan Qalibaf Asl said some of recent developments and boom in the capital market are indebted to the efforts of media which have helped the stock market, in cooperation with active bodies in the Bourse, to move towards more development.
He further said that one of the issues which has been seriously considered by the SEO is to avoid parallel work in the capital market and the SEO should do its best to monitor all different bodies in order to remove parallel work.
Qalibaf Asl added that the main task of SEO is to supervise and all executive affairs should be handed over to the related bodies. He said currently SEO has left the admission board and it has handed over all executive affairs to the Bourse and Farabourse.
He added that what is stipulated in the law is that SEO should act as a supervisory body, and determining the border between execution, and supervision is of the major acts of SEO.
Qalibaf Asl noted that boosting international position of Iran’s capital market is of the major goals of the organization, reiterating that boosting the financial knowledge of the public is of the special strategies of the supervisory body.
He also said improving the health of market system is on the agenda and the organization is resolved to boost transparency in operations as well as reforming some regulations and reducing the risks in trade.
The CEO of the organization added that in the first quarter of the year, some 50,000b tomans of liquidity has entered the capital market while last year, the total liquidity entering the market was 30,000b.
Qalibaf Asl added that the organization is working to facilitate entries of companies into the capital market through offering tax incentive.
He also said since 15 years ago, three major missions have been handed over to the national capital market, adding that offering shares of state-run companies, liberating justice shares and boosting the role of Bourse in financing the generative sector of economy were those missions, and completing them is of the major tasks of this supervisory body of the capital market.
Qalibaf Asl said so far 9.5m people registered in SEJAM portal and they have received trade codes while the number of those who had trade codes was 820,000 people last year.
He once again reiterated that the organization will confront with anybody who tries to create disorder and chaos in the capital market, reiterating that all financial reports of the listed companies in the stock market are transparent and authentic and it will minimize any information-rent in the capital market.
