The relationship between competition law and capital market in Iran

stock market is run by special regulations. accordingly, analyzing the issues about the relation between the competition law and capital market such as stock market officials and their boundaries in the context of setting, controlling and  enforcing rules, the generality or specificity of such rules, the controllability of stock market in comparison to the general competition rules and the state of competition law in case of the sanctions governing securities' market and finally, the competition between the stock market officials are of great importance which will be fully discussed during this article.  regarding the relationship between competition law and capital market in Iran, it must be considered that: first, specificity and formality of stock market does not contradict the general authority of the special organizations and instruments of competition law.  Secondly, the bilateral structure of these regulations in our country does not exactly prevent disturbing the competitive rules but it also does not quite comply with the competition law rules. Third, although the civil, criminal and disciplinary sanctions in stock market have been set to protect this area, but the stock market does not directly play a role in clarifying or confronting the anti-competitive conduct in securities’ market itself and the related regulations have to be extracted from the stock market regulations. Therefore, the legal institutions working on this area in Iran, are mostly related to sanctions rather than focusing on ethical or practical matters. Forth, although, the competition between stock market officials and related organizations could have some acceptable results but it also could lead to merger, monopoly or even some anti-competitive conducts in long term. Thus, the competition law could face some conflicts at this area.