Regulatory Alerts2024-02-08
Iraqi Securities Commission Regulatory Bylaw No. 16 (2022) on Insider Trading in Listed Joint Stock Companies
The Iraqi Securities Commission issued Bylaw No. 16 in 2022 to regulate insider trading and mandate strict disclosure obligations for listed joint stock companies. The regulation defines insiders, prohibits the use of material non-public information for trading, and imposes specific blackout periods around financial reporting. It establishes penalties for violations, including monthly fines for late disclosure submissions and enforcement measures overseen by the Market Board.
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