Jurisprudential and Legal Foundations of Unauthorized Transactions in Securities Exchange Market

based on the jurisprudential and legal scales, unauthorized transactions of the securities are greatly distinct from the other transactions. No matter under what title the relationship between the broker and the customer is analyzed, it is agency in essence and the broker should act within the scope of the granted authorities otherwise unauthorized transactions of the securities take place.

this is a theoretical research using descriptive-analytical method. The information has been gathered based on a documentary method through library research.

Ethical Considerations: 

meanwhile observing the content originality, the present study has been adherent to the principles of honesty and trustworthiness in all the stages thereof.

since not only the narrations and Hadiths but also the business expediencies of the transaction constitute the jurisprudential source of the unauthorized transaction, the authenticity premise of these types of transactions originate from the existing provisions considering the difference of the securities’ transactions from the other kinds of transactions.

as for the authenticity of the unauthorized transaction of the securities, one general criterion, considered always acceptable, cannot be pointed out for the unauthorized transactions rather a specific criterion should be taken into account in every case according to the provisions that are different from those pertinent to the transactions of other properties. .