EghtesadOnline: Shahin Cheraghi was appointed as a new member of the High Council of Securities and Exchange. The appointment was proposed by the Economy Ministry and approved by the government.
An experienced stockbroker active in the capital market since 2004, Cheraghi holds a master's degree in financial management from Shahid Beheshti University of Tehran.
Among other things, he is a former CEO of Sangab Hamedan - a stone company affiliated to the Ministry of Industries, the CEO of Tavan Afza investment firm, chairman of Mehr Afarin Stock Brokerage Company, a non-executive member of the Iran Energy Exchange, and a non-executive member of Mellat Insurance Company, Fars News Agency reported.
Cheraghi got the job after Hossein Abdoh Tabrizi, a veteran financial expert, resigned. Abdoh Tabrizi is a prominent university lecturer and financial advisor. According to Saeed Islami Bigdeli, another member of the council, Abdoh Tabrizi left to make way for the younger generation, Financial Tribune reported.
As the main regulator in charge of adopting macro policies, the council is the top body for stock market regulation. It was formed with the mandate to protect the rights of capital market investors and develop a transparent, fair and efficient securities market.
The council is comprised of senior trade and monetary officials including the governor of the Central Bank of Iran, the minister of economy, head of Iranian Chamber of Commerce, Industries, and Mine, head of Securities and Exchange Organization, and the prosecutor general or his deputy.