Regulatory Alerts2018-12-18
Rules of Due Diligence for Securities Customers
The Iraqi Securities Commission issued these regulations to enforce anti-money laundering and counter-terrorist financing standards on all licensed securities entities. The rules mandate strict customer identification, continuous risk-based monitoring, and enhanced due diligence for high-risk clients and politically exposed persons. Additionally, the document requires the appointment of reporting officers, the maintenance of detailed records for five years, and the implementation of internal compliance controls and employee training programs.
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