Regulatory Alerts2026-01-29
Iraq Securities Commission Regulations No. 23 (2022) for the Trading Platform of Shares of Non-Disclosing Joint Stock Companies
The Iraq Securities Commission issued Regulations No. 23 (2022) to establish a specialized trading platform for shares of joint stock companies that fail to disclose annual or quarterly financial statements. The regulations mandate that such companies be suspended from the main market and transferred to this platform, which operates under the Stream-X electronic system with a maximum price fluctuation limit of 5 percent. Companies must disclose the required financial information within one year to return to the main market, otherwise they face delisting to the OTC market and potential legal action under Law No. 74 of 2004.
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