Securities and Exchange Organization of Iran (SEO) is the supervisory authority of Iran financial market that regulates activities of Exchanges, Associations and financial institutions. SEO aims to maintain a transparent and efficient market and protect investors' rights. The Securities and Exchange Organization of Iran (SEO) was established in 2006 after Tehran Stock Exchange demutualization. The Organization shall be a public non-governmental institute with legal and financial independence and shall be funded through a service charge and admission fee collected from companies listed in the Exchanges and other revenues. All Exchanges, financial institutions and intermediaries are obliged to be registered by SEO in order to operate in the financial market.