نوع مقاله : پژوهشی
نویسندگان
1 استادیار گروه حقوق خصوصی، دانشکدۀ حقوق و علوم سیاسی، دانشگاه خوارزمی، تهران، ایران
2 دانشجوی دکتری حقوق خصوصی، دانشکدۀ حقوق و علوم سیاسی، دانشگاه خوارزمی، تهران، ایران
چکیده
کلیدواژه‌ها
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عنوان مقاله [English]
نویسندگان [English]
In the capital market, there is a range of transactions between the issuer and the investor or between the securities buyer's and seller's brokers. These transactions, like other kinds of transactions in the non-regulated markets, require efficient rules and sanctions. Some of the sanctions are individually restricted to the capital market transactions and have been enacted by the Securities Exchange Organization and Securities and Exchange High Counsel. Some other sanctions can be drawn out of the general rules governing contracts. It is expected that the right of retention, as a general rule governing contracts, is applicable in capital market transactions, as well. However, given the specific rules governing the securities market and the necessity of using brokers' services in this market, there are some scepticisms on the right of retention in securities transactions. This study, in a descriptive-analytic way, shows that despite the fact that the right of retention is the general rule of contracts, there are serious scepticisms regarding its application in securities transactions because of the unique nature of these transactions and the fact that these transactions are realized through brokers and central depository company. This is sometimes for the purpose of protecting investors in the context of capital market regulations but in some situations can violate both investors' and brokers' rights. Therefore, it is necessary to set up the Delivery vs. Payment (DVP) system to cover the gaps.
کلیدواژه‌ها [English]
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