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Countering Anti-Competitive Practices and Unethical Competition in the Capital Market: A Case Study of Iran and the United States
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Hossein Ghasemi1   , Mahamoud Habibi Tabar2 , Masoud Vafaei3 |
1- Ph.D. Student, Department of Law, Sav C., Islamic Azad University, Saveh, Iran
2- Department of Law, Sav C., Islamic Azad University, Saveh, Iran , mahmoudhabibtabr@gmail.com
3- Department of Law, Sav C., Islamic Azad University, Saveh, Iran |
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Abstract: (20 Views) |
Background: Unethical competition in the capital market means providing misleading, fraudulent information, and manipulating the market and abusing information to gain more profit than competitors. This article provides a comparative study of legal-economic approaches and frameworks for combating anti-competitive practices and unethical competition in the capital market of the United States of America and the Islamic Republic of Iran.
Conclusion: In the US market, a dual regulatory system prevails, in which securities laws (under the supervision of the Securities and Exchange Commission) and antitrust laws (under the supervision of the Department of Justice (DOJ) and the Federal Trade Commission (FTC)) operate synergistically. This comprehensive approach, in addition to combating unethical competition and market manipulation and information abuse, actively addresses competitive challenges in market infrastructure, such as monopolies in exchanges and related services. In contrast, the Iranian capital market, under the supervision of the Securities Market Law, focuses mainly on protecting investors and preventing direct manipulation. Although this framework is crucial for maintaining order in the market, it lacks the potential and necessary solutions to combat the structural and monopolistic aspects that can create unethical competition and anti-competitive practices. A comparison of these two systems shows that the US market has the advantage of regulatory integrity and broader legal tools to ensure ethical competition. Finally, this article suggests lessons learned from the US experience for improving Iran’s regulatory and legal frameworks so that it can ensure fair, ethical, and efficient competition in its capital market while protecting investors’ rights.
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| Keywords: Anti-Competitive Practices, Unethical Competition, Capital Market |
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Full-Text [PDF 739 kb]
(27 Downloads)
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Type of Study: Research |
Subject:
Special
Received: 2025/11/29 | Accepted: 2026/02/1 | Published: 2026/08/1
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