مبانی تأسیس و شخصیت حقوقی صندوق جبران خسارات ناشی از جرایم و تخلفات بازار سرمایه ایران؛ رهنمودهایی از حقوق آمریکا

نوع مقاله : علمی پژوهشی

نویسنده

استادیار گروه حقوق خصوصی، دانشکده حقوق، دانشگاه علم و فرهنگ، تهران، ایران.

چکیده

«صندوق منصفانه» راهکاری است که در نظام حقوقی آمریکا، جهت جبران خسارات ناشی از جرایم و تخلفات بازار سرمایه پیش‌بینی شده است. در ادبیات حقوقی کشورمان نیز، پیش‌تر چالش‌های پیدایش صندوق مشابه در ایران طرح و پاسخ‌های متناسب جهت دفع این چالش‌ها ارائه شده است. اینک، پرسش قابل‌طرح درباره صندوق موصوف در نظام حقوقی ایران این است که اولاً، مبانی تأسیس صندوق یادشده کدام‌اند؟ ثانیاً، در فرض تأسیس این صندوق در ایران، آیا امکان پیش‌بینی شخصیت حقوقی برای آن وجود دارد یا خیر؟ در این مقاله که به روش توصیفی – تحلیلی و با مراجعه به منابع کتابخانه‌ای فراهم آمده، سعی می‌شود پاسخ به این پرسش‌ها با نگاه به تجربه مشابه صندوق منصفانه در کشور آمریکا ارائه شود. در پایان، نتیجه آنکه، اولاً، می‌توان «اصل جبران کامل خسارات»، «عدالت افقی» و «اصل سرعت» را به‌عنوان مبانی تأسیس صندوق جبران خسارات ناشی از جرایم و تخلفات در بازار سرمایه ایران معرفی نمود. ثانیاً، پیش‌بینی شخصیت حقوقی درخصوص صندوق تأمین خسارت‌های بدنی با کارکردی مشابه در مقایسه با صندوق موضوع این نوشتار و همچنین، اعطای شخصیت حقوقی به صندوق‌های «الف» و «ب» اداره تصفیه امور ورشکستگی، ضرورت اجتناب از ترجیح بلامرجح و وجود شرایط منطقی و عقلائی اعطای شخصیت حقوقی در ما نحن فیه همگی جانب پیش‌بینی شخصیت حقوقی برای صندوق جبران خسارات ناشی از جرایم و تخلفات بازار سرمایه ایران را تقویت می‌کنند.

کلیدواژه‌ها

موضوعات

عنوان مقاله [English]

The Foundations for Establishment and Legal Personality of the Compensation Fund for Damages Caused by Crimes and Violations in Iran's Capital Market; Guidance from the U.S Law

نویسنده [English]

  • Ehsan Bahramy
Assistant Professor, Department of Private Law, Faculty of Law, University of Science and Culture, Tehran, Iran.
چکیده [English]

The "Fair Fund" is a mechanism provided for within the American legal system to compensate for damages arising from crimes and violations in the capital market. In our country's legal literature, the challenges of establishing a similar fund in Iran have previously been raised, and appropriate responses to address these challenges have been proposed. Now, the pertinent questions regarding such a fund in the Iranian legal system are: first, what are the foundational bases for establishing such a fund? Second, assuming the establishment of this fund in Iran, is it possible to foresee a legal personality for it or not? This article, prepared using a descriptive-analytical method and by referring to library resources, attempts to answer these questions by considering the similar experience of the Fair Fund in the United States. In conclusion, firstly, the "full compensation" principle, "horizontal equity," and the "expediency" principle can be introduced as the foundational bases for establishing a compensation fund for damages arising from crimes and violations in Iran's capital market. Secondly, the foreseeability of legal personality for the bodily injury compensation fund with a similar function compared to the fund subject of this paper, as well as the granting of legal personality to Funds "A" and "B" of the Bankruptcy Affairs Administration, the necessity of avoiding undue preference, and the existence of logical and rational conditions for granting legal personality in the case at hand, all strengthen the argument in favor of foreseeing a legal personality for the compensation fund for damages arising from crimes and violations in Iran's capital market.

کلیدواژه‌ها [English]

  • Civil Penalty
  • Disgorgement {of Ill-gotten Profits}
  • Expediency Principle
  • Fair Fund
  • Full Compensation Principle
  • Horizontal Equity

مراجع

Abulhamd, A. (1976), Administrative Law, Vol. 1, Tehran: Tous (In Persian).
Adriano, E. (2015), The Natural Person, Legal Entity or Juridical Person and Juridical Personality, Penn State Journal of Law and International Affairs, Vol. 4, No. 1.
Babaei, I. (2015), Insurance Law, Tehran: Samt (In Persain).
Babaei, I. & Azadbakht, Sh. (2025), The Concept and Position of Disgorgement Damages in Contractual Liability: Challenges and Applications, Journal of Private Law Research, Vol. 14, No. 52 (In Persain).
Badini, H. (2015), Philosophy of Tort Law, Tehran: Sahami-e Enteshar (In Persain).
Bahramy, E. & Montazeri, M,M. & Amiri, M. (2025), Legal Challenges of Establishing a Compensation Fund for Exchange Market Crimes and Violations; With a Reflection on American Capital Market Law, Journal of Securities Exchange,Vol. 17, No. 67 (In Persian).
Black, H. (1968), Black’s Law Dictionary, Minnesota: West Publishing Co.
Conac, P. & Gelter, M. (2019), Global Securities Litigation and Enforcement, Cambridge: Cambridge University Press.
Ellsworth, J,D. (1977), Disgorgement in Securities Fraud Actions Brought by the SEC, Duke Law Journal, Vol. 1977, No. 3.
Grantham, R, B. & Rickett, C,E,F. (2003), Disgorgement for Unjust Enrichment, Cambridge Law Journal, Vol. 62, No. 1.
Harlow, C. (2005), Understanding Tort Law, London: Sweet & Maxwell.
Katouzian, N. (1995), Non-Contractual Obligations: Tort Law, Tehran: Tehran University Press (In Persain).
Katouzian, N. (2011), Non-Contractual Obligations: Tort Law, Vol. 1, Tehran: University of Tehran Publication (In Persain).
Katouzian, N. (2016), Ownership & Property Law, Tehran: Mizan (In Persain).
Khodabakhshi, A. (2021), Insurance Law and Tort, Tehran: Sahami-e Enteshar (In Persain).
Mirshekari, A. & Azadbakht, Sh. (2023), Compensability of Damages in Excess of Blood Money in the Light of Judicial Precedent, Analysis of judicial Decisions Journal, Vol. 1, No. 2 (In Persian).
Pasban, M. (2018), Company Law, Tehran: Samt (In Persian).
Safai, S,H. & Qasemzadeh, S,M. (2001), Persons and Persons Under Legal Incapacity, Tehran: Samt (In Persain).
Safai, S,H. & Rahimi, H. (2018), Comparative Tort Law, Tehran: Shahr-e Danesh Studies and Research Institute (In Persain).
Saffar, M,J. (2016), Juridical Personality, Tehran: Behnami (In Persian).
Shah, V. (2019), Determining Disgorgement in Securities Law, Law Review, Government Law College, Vol. 10, No.
Shahrokhi, S,N. & Rahimi, H. (2023), A Comparative Study of the Principle of Full Compensation and the Plural Philosophical Foundations of the Law of Torts, Contemporary Comparative Legal Studies, Vol. 14, No. 30 (In Persian).
Shamsullahi, M. (2020), Securities Law: Legal Rules Governing the Information Disclosure in the Securities Market, Tehran: Mizan (In Persain).
Soltani, M. & Khalili, M. & Sohrabi, L. & Fallah Tafti, Z. (2014), Essentials of Capital Market Law (Principles), Tehran: Bourse Publications (In Persian).
Soltani, M. (2013), Jurisdiction of the Arbitration Chamber Mentioned in the Securities Market Code, Legal Research Quarterly, Vol. 16, No. 63 (In Persian).
Soltani, M. (2017), Capital Market Law, Tehran: Samt & Shahid Beheshti University (In Persian).
Velikonja, U. (2015), Public Compensation for Private Harm: Evidence from the SEC's Fair Fund Distributions, Stanford Law Review, Vol. 67, No. 2.
Winship, V. (2008), Fair Funds and the SEC's Compensation of Injured Investors, Florida Law Review, Vol. 60, No. 5.
Yazdanian, A. (2018), General Principles of Tort Law, Vol. 1, Tehran: Mizan (In Persain).
 

فایل ها

سابقه مقاله

  • تاریخ دریافت: 02 بهمن 1404
  • تاریخ بازنگری: 19 اسفند 1404
  • تاریخ پذیرش: 30 فروردین 1405

هم رسانی

ارجاع به این مقاله

آمار