Comparative study of the structure and pattern of supervision of financial institutions in the Iranian capital market and selected countries

Subject Areas : Journal of Investment Knowledge

Rohollah Najafi ¹ , Mahdi Madanchi Zaj ² , Mirfeyz Fallahshams ³ , Ali Saeedi ⁴

1 - Department of Financial Management, Central Tehran Branch, Islamic Azad University, Tehran, Iran.
2 - Department of Financial Management, E-campus Branch, Islamic Azad University, Tehran, Iran.
3 - Department of Financial Management, Central Tehran Branch, Islamic Azad University, Tehran, Iran.
4 - دانشیار دانشگاه آزاد،گروه حسابداری، واحد تهران شمال، دانشگاه آزاد اسلامی، تهران، ایران.

Received: 2019-01-30 Accepted : 2020-12-16 Published : 2020-12-21

Keywords: نظارت مبتنی بر مقررات, نهادهای مالی, نظارت مبتنی بر ریسک,

Abstract :

After the financial crisis of 2007-2009, regulation and supervision of the financial sector have undergone extensive changes in different sizes and are stricter. Financial institutions that were not under surveillance until the financial crisis are now being supervised and regulated, and those under supervised have been required to comply with the rules and regulations. Regarding the important role of financial institutions in the capital market and the necessity of efficient and effective supervision on these institutions, the present paper tries to investigate the features, processes, dimensions and desired structures of financial institutions in capital market using comparative study of developed countries. the results show that most of the countries of the world are driven from the rule-based supervision pattern, which is mainly investigating the historical performance of financial institutions at a time of time and is based on transaction- to risk-based supervision pattern, focusing on continuous and process-based supervision. in this study, in addition to investigating the macro structure of world financial markets compared to iran, structure, dimensions, features and tools used in the risk- based supervision pattern are investigated. in addition, the results of adaptive study are presented in the comparison table and the proposed model with the aim of optimizing the existing structure of supervision of financial institutions in the capital market is presented as conceptual model at the end of the paper.

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