Regulatory Alerts2024-07-14
Iraq Securities Commission Board Decision on Warning Listed Companies Regarding Q1 2024 Financial Disclosures
The Iraqi Securities Commission issued a formal warning to nine listed companies for failing to meet financial disclosure requirements under Article 6-b of Regulatory Bylaw No. 8. The Board mandated that these entities submit their Q1 2024 financial data and status updates within five working days from the date of the notice. Failure to comply will result in the initiation of legal proceedings against the non-compliant firms.
Republic of Iraq Council of Ministers Iraqi Securities Commission
Iraqi Securities Commission Board Number: 13 / 72 Date: 11 / 7 / 2024
To: Board of Governors of the Iraq Securities Market Re: Warning
Greetings ...
Based on Regulatory Bylaw No. (8), Listed Companies Disclosure, Article (6-b), and considering that listed companies have not yet met the financial disclosure requirements.
Therefore, the Board decided in its ninth meeting held on 9/7/2024 to issue a warning to the companies listed below to submit their quarterly financial data for the first quarter of 2024 and state their position within a period of (5 working days); otherwise, legal measures will be taken against them.
... With appreciation ...
Companies that have not submitted data for the first quarter of 2024:
- Ashur Hotels (Joint Stock)
- Modern Construction Materials Industry (Joint Stock)
- Light Industries (Joint Stock)
- Iraqi Land Transport (Joint Stock)
- Badia for Public Transport (Joint Stock)
- Iraqi Transport of Petroleum Products and Goods (Joint Stock)
- North Bank (Suspended) (Private Joint Stock)
- Al-Khair for Financial Investment (Private Joint Stock)
- Batek for Financial Investment (Private Joint Stock)
Nagham Hussein Ismail Deputy Chairman of the Securities Commission 2024/7/11
Copies sent to: • Iraq Securities Market .. to take necessary action .. With appreciation • Office of the Chairman of the Commission .. for information ... With appreciation • Administrative and Legal Department .. Management Department .. With appreciation • Information Systems Department / Government Media and Communications .. for publication on the Commission's website ... With appreciation
Baghdad - Al-Yarmouk District 612 St.18 - Ho.12 - P.O. Box Baghdad: 3108 T 00964 7734 977 377 W www.isc.gov.iq E iraqisc@isc.gov.iq E irqisc@yahoo.com