Regulatory Alerts2024-01-11
Iraq Securities Commission Board Regulations on Clearing and Settlement No. 24 of 2024
The Iraq Securities Commission Board issued Regulations No. 24 of 2024 to establish the legal framework for the clearing and settlement of securities transactions on the Iraq Stock Exchange. The regulations mandate a T+2 settlement cycle, define the roles and financial obligations of brokers and custodians, and require the maintenance of settlement guarantee accounts and liquidity reserves. It further outlines enforcement mechanisms, including penalties, service suspensions, and collateral seizures for participants who fail to meet their settlement obligations.
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