4487 which was passed in December 1999, which brought in a set of amendments to the Capital Market Law expanding the duties and the scope of authority.

This included increased consumer protection and changes to allow dematerlisation of stocks and other changes to make the markets more flexible and able to use information technology.

The Chairman who is also the CEO is responsible for the administration and representation of the CMB and sits on a board which consists of seven Commissioners.

The Council of Ministers appoints two members from four nominations by the Ministry of State Responsible for the Economy.

The other five members are appointed from the nominations of the "Ministry of Finance", the "Ministry of Industry and Commerce", the "Banking Regulatory and Supervisory Board", the "Association of Trade Chambers and Exchanges", and the "Association of Capital Markets Intermediary Institutions".