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Seven tools for foreign investors’ rights protection in developing countries
This paper highlights the opportunities that developing countries may give to investors. All the investors have a clear view of the risks that can be faced in case of the investments. Our paper raises seven main problems; these will increase investors’ rights protection and decrease investors risks. Starting from data and information protection, we went to international coding necessity in the market and pointed out the importance of overall control of corporate actions.
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Vahan Stepanyan has been the Chief Executive of the CDA since April 2006. After graduating from Yerevan State Economic University, he was closely involved in the development of the securities market regulation framework working at the Ministry of Finance (1998–99) and then the Securities Commission of the Republic of Armenia. In 2001, Vahan joined the Central Depository of Armenia — first in the capacity of the Head of Issuer Relations Department and then as the Deputy CEO.
Levon Klekchyan joined CDA in March 2015 and acted as Business Administrator at the Depository System Servicing Department. He was mainly in charge of all business processes and functions for securities registration and settlement system. Levon started his career as financial analyst at the Finance Department of Redinet, CJSC. Simultaneously, he was involved in several projects as an expert. Levon graduated from Yerevan State University, Faculty of Economics, and also holds a PhD in Finance. He is a lecturer at Yerevan State University.