About securities and exchange brokers association :
According to clause 5 of article1 and article53 of securities market of Islamic republic of Iran legislated in November 2005 and after issuance of "the Regulation regarding the formation and registration of associations in securities market" by securities and exchange organization's board of directors, Articles of association of SEBA suggested to (Securities and Exchange Organization) SEO by brokers selected committee was approved by SEO board of directors as a NGO, noncommercial and non-profit organization.
The founder board of SEBA was selected in March 2007 for founding and registering this association. At that time the first members that consisted of active brokers in capital market , became members of this association. Finally SEBA was registered in September 2007 in companies registration bureau. After formation founding general assembly in April 2007 SEBA formally began its activities as an self-regulated formation according to the clause 5 of article1 of securities market Act in order to perform its professional activities and regulate the relation between members.
The legal requirement of the formation of SEBA and membership in it :
According to the article 33 of securities market Act approved in November 2005, every brokerage, brokers / trader and market handler should become a member of SEBA at first and they are supposed to respect all the laws, regulations and instructions.
So all the brokerage, brokers / trader and market handler activities without membership in SEBA are deemed to be illegal.
SEBA Activities :
• Suggesting registration, suspension or cancellation regulations concerning the membership of SEBA members and relevant people to SEO and enforcing them.
• Supervision and assessment on SEBA members e and relevant people compliance with the applicable law : 1. Informing 2. Insuring the compliance with the law. 3. Insuring of preservation and continuity of registration condition.
• Supervising on SEBA members advertising programs to prevent providing false and illusory information.
• Ordaining and enforcing professional and disciplinary criteria and standards for SEBA members within the laws and regulations.
• Mediation in disputes between brokers, traders brokers, market handlers and other relevant people in accordance with article 36 of the Act.
• Establishing and maintaining an appropriate system to consider the disputes between SEBA members.
• Regulating communications between members and relevant people within the law to comply with the content of the clause 5 of article 1 of the Act.
• Helping to prepare and codify laws, provisions and regulations relevant to members and SEO.
• Continuous reviewing the market capacity of the services provided by SEBA members and developing it.
• Suggesting to SEO changing fees ceiling and the price of provided services provided by SEBA members.
• Suggesting the use of new financial instruments in securities market in order to make variety in provided services by members.
• Preparing necessary facilities for developing systematic, professional and continuous training to relevant people to improve their knowledge and the quality of provided services.
• Doing research activities and publishing professional publications and books and help to these types of activities.
• Holding seminars, establishing training courses and (Frequently Asked Question) FAQ sessions , publishing training booklet, interviewing with media in order to present SEBA activities and its members and general training in relevant issues to securities market.
• Establishing an appropriate system to inform, realize and settle disputes between members and relevant people and protection of their professional reliability and their independence.
• Communication and cooperation with securities market establishments.
• Membership in both national and international professional conventions and communicating with them to gain experience, exchange information and facilitate the members activities in other countries.
• Other duties that SEBA is supposed to do within the law now or later.
SEBA Goals :
• Effort in order to create a fare, competitive and efficient securities market to attract investors trust.
• Improving the reliability of SEBA members and related people.
• Regulating the affairs and professional improvement of the occupations of the SEBA members.
• Improvement and expansion of the services provided by SEBA members.
• Improving the relevant members expert knowledge.
• Regulating the relations between SEBA members with each other or with their employees.
• Doing the duties that SEBA is supposed to do according to the law.