With the blessing of God Almighty, the College of Law discussed on Tuesday, 7/25/2023, a master’s thesis in private law entitled ((Legal Protection for Investors in the Stock Market - A Comparative Study)) and submitted by the master’s student (Nima Rashid Saleh). Legal protection for any subject requires a clarification of the legal rules, which provide protection for clients within their framework, and clarifying areas of ambiguity and shortcomings in them. Investing in the private securities market, due to its special nature, requires the establishment of legal rules that protect those who invest in securities in that market, and to avoid any confusion of concepts that may arise, the legal protection that we intend and must achieve the desired results in is the protection of investors in the private securities market from intermediaries who take over trading operations according to the law. Securities are not traded without the intervention of the broker, and this process takes place according to an agreement between the broker and the investor. The former works under this agreement in accordance with the orders of the latter. For the purpose of achieving protection for investors, the legislation regulating the stock market ordered brokers to implement governance rules, in an effort to provide a kind of protection for investors, as governance is based on the principle of separation between ownership and management, which requires the presence of independent members on the broker’s board of directors. These legislations also ordered activating the role of oversight over the work of the broker, and ensuring that the latter works in accordance with the orders of his client, the investor, by recording those orders in special records prepared by the broker for that. These two types of mechanisms, we believe, are among the Direct mechanisms to protect investors. In the same context, there are indirect mechanisms to protect investors from intermediaries. These mechanisms are through specifying the entity to which investors may resort, to obtain their rights if the intermediaries breach their obligations, as we find that most of the securities market legislation has specified the judiciary and arbitration, and investors who suffer harm from intermediaries can resort to them, to obtain their right to compensation to compensate for their loss. The matter was not limited to these two entities, but some legislation went to set up a fund to protect investors from intermediaries, and it is Membership in it is obligatory for the broker, and the broker is obligated to pay periodic contributions to this fund, so that the latter pays compensation to the investor if the broker breaches his commitment to him, and he is harmed as a result, or if the broker goes bankrupt. The discussion committee consisted of: Prof. Dr. Saddam Faisal Cooks, Chairman, Prof. Dr. Hatem Ghaib Saeed, Member, Prof. Dr. Muhammad Latif Saleh, Member, Prof. Dr. Majeed Ahmed Ibrahim, Member. My supervisor, after extensive study of the thesis and the discussion committee hearing the student’s defenses for his thesis, the committee decided to accept the thesis and grant the student a master’s degree. A thousand congratulations to the student for this effort he made, and may he obtain his doctorate, God willing. Media Division/College of Law
