sabirJo saqmis safuZvlebi

TviTregulirebadi organizaciebisaTvis aucilebelia sawevro
Senatani. mag., yoveli safondo birJa Tavisi Semosavlebis
did nawils wliuri sawevro Senatanebidan iRebs, romelic
zogierT birJaze 500 aTas dolarsac aRwevs. 1
TviTregulirebis modeli mravalia. yvelaze metad cnobilia
profesionali dilerebis erovnuli asociaciebi, mag.,
NASDAQ-i aSS-Si da sxv.
sazogadoebrivi regulireba masobrivi informaciis saSualebebis
gamoyenebiT xorcieldeba. swored sazogadoebis reaqcia
aris is pirvelmizezi, romlis safuZvelze da mis Semdeg
saxelmwifoebrivi da profesionali muSakebis gaerTianebebis
regulireba Zlierdeba.
3. profesionali Suamavlebis saqmianobis
kontroli
SeiZleba Tu ara yoveli msurveli gaxdes brokeri, dileri
an sxva profesionali Suamavali fasiani qaRaldebis bazarze? an
am saqmianobaSi raime SezRudvebi unda dawesdes?
am sakiTxze erTgvarovani pasuxi ar arsebobs. im saxelmwifoebSic
ki, sadac saqmianobis es sfero yvelasaTvis Tavisufalia,
profesional Suamavlebze aucilebeli zedamxedveloba
daSvebulia. xolo im qveynebSi, sadac mocemuli saqmianoba
SezRudulia, am saqmianobaze daSveba Sesrulebuli funqciebi-
Ta da sazogadoebrivi interesebiT ganisazRvreba.
rogoria msoflio praqtika am sakiTxSi?
aSS-Si 1996 wlis kanoniT nasamarTlev pirs birJaze sainvesticio
konsultantad muSaoba ekrZaleba;
didi britaneTis kanoniT brokerad muSaobisaTvis aucilebelia
bankis menejeris, safondo birJis wevrisa da iuristis
daxasiaTeba-rekomendacia;
israelis kanonmdeblobaSi ar aris specialuri moTxovnebi
brokerebis an sxvaTa mimarT, radgan am saqmes is komerciuli
bankebi asruleben, romlebic centraluri bankis mkacr
zedamxedvelobas ganicdian; 2
evrokavSiris 1993 wlis direqtiviT, firmas, romelic
fasiani qaRaldebis bazarze saqmianobs, unda gaaCndes stan-
1 Рот А., Бернард Р. и др. Основы государственного регулирования
финансового рынка. М., 2002, С. 221.
2 Heth M. Israeli Business Law. P. 32.
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