Regulatory Alerts2023-02-14
Iraqi Securities and Exchange Commission Regulatory Bylaw No. 17 (2022) on Safekeeping
The Iraqi Securities and Exchange Commission issued Bylaw No. 17 of 2022 to regulate the licensing, operations, and oversight of safekeeping institutions for securities. The regulation establishes strict eligibility criteria for applicants, including capital requirements and independent operational structures, while defining specific duties such as asset custody, investor notification, and settlement obligations. It further outlines prohibited activities, grounds for license suspension or revocation, and penalties for non-compliance to ensure market integrity and investor protection.
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