Regulatory Alerts2023-09-13
Regulatory Rules No. 20 for Brokerage Companies Licensing 2023
The Iraqi Securities Commission issued Regulatory Rules No. 20 for 2023 to establish the licensing framework for brokerage companies operating in the Iraqi Securities Market. The regulations mandate specific application requirements, including detailed corporate and financial disclosures, background checks for management, and a minimum capital threshold of 50 million IQD. Additionally, licensed entities must maintain approved accounting and AML systems, pay a one-time membership fee of 200 million IQD, and an annual renewal fee of 500,000 IQD.
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