Regulatory Alerts2023-02-14
Regulatory Bylaw No. (15) Conditions and Requirements for Listing Companies in the Securities Market / Second Market
The Capital Markets Authority issued Bylaw No. (15) of 2022 to establish the regulatory framework for the Second Market of the Iraq Securities Market, defining specific listing conditions, trading mechanisms, and disclosure obligations for companies. The regulation mandates that listed companies maintain minimum equity ratios, submit audited financial statements, and adhere to strict reporting timelines while allowing for the transfer of companies between the Main and Second Markets based on performance metrics. It further outlines the procedures for delisting due to non-compliance or lack of trading activity and grants the Authority and the Market the power to monitor adherence to financial market laws and regulations.
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