The Role of Stock Exchange’s Arbitration Board In the Settlement of Disputes Arising in the Securities Market

The arbitration board was created in accordance with the Tehran Stock Exchange Act of 1345, in response to necessity of rapid and specialized settlement of disputes in the capital market, in order to deal with brokerage disputes. This board has been preserved in the securities market law and its competence has been expanded considerably, including all disputes between the securities market activists who engage in their professional activities. However, the lack of comprehensive regulations on this board has created a lot of ambiguity over the legal rules governing its procedure. On the one hand, using the title of arbitration in its naming has created doubts about its nature. On the other hand, there are ambiguities about the scope of its competence, as well as the appealability of its decisions and the appeal authority. In this article, we will review the nature of the arbitration board and its position in the Iranian judicial system, its competence and appealability of its decisions.