SECURITIES MARKET REGULATION ON GLOBAL LEVEL
ALEKSANDRA STANKOVSKA
SAVICA DIMITRIESKA
VASKO STAMEVSKI
Abstract
The subject of this paper is the current capital market problem from the legislation aspect, especially the stock exchanges where long-term financial instruments are traded. A review of the capital market legal framework, the capital market function, the key institutions that act on global and national level, the way of their establishment and the processes of their interactions are given.
In the paper, a comparative approach has been made regarding the characteristics and legal regulations of the stock exchanges in highly developed economies with regard to the Macedonian Stock Exchange legislation. The paper`s aim is to give a legal regulations overview regarding the capital market function, especially the stock exchanges operation with securities and the trading manner in the securities issue, as an actual long-term financing source.
Key words
capital market legislation, stock exchange, securities and securities issue
JEL Codes: G10, G15
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