Iraqi Securities Commission Directs Brokerage Firms to Implement the Risk-Based

Iraqi Securities Commission has issued a circular to all brokerage firms regarding the adoption of the Guidance Manual on Risk-Based Supervision and Oversight, covering the institutional framework and the key components of the risk-based supervisory and oversight process.

This initiative comes in line with the requirements and recommendations of the Financial Action Task Force (FATF) and within the framework of updating the mutual evaluation process and addressing weaknesses in the securities sector, thereby strengthening compliance and supervisory procedures within brokerage firms.

ISC urged all firms to review the Guidance Manual and take the necessary measures to implement its provisions through the attached QR code. It also emphasized that inspection teams will monitor the extent of firms’ compliance with the instructions contained therein.

To view ISC letter, click here 

To view the Guidance Manual on Risk-Based Supervision and Oversight .