Regulatory Alerts2023-12-14
Regulations on Opening Branches for the Iraq Securities Market No. 22 of 2023
The Iraq Securities Commission issued Regulations No. 22 of 2023 to establish a wholly-owned limited liability branch of the Iraq Securities Market with a minimum capital of 25 million Iraqi Dinars. This branch is mandated to supervise licensed brokerage firms, process listing and licensing applications, and operate dedicated departments for depository services and anti-money laundering compliance. The regulations define the licensing requirements, including the qualifications of the managing director, the approval process within ten working days, and the conditions for revocation of the license.
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