Mechanism for transferring ownership of unlisted securities (Comparative study)

Abstract

Securities are a very important tool for transactions and trades that take place between sellers and buyers in the securities market, because of their positive role in facilitating the process of transferring shares to and from investors and shareholders, and for this it was necessary to find a quick and safe mechanism for the transfer of these shares, and accordingly, the Iraqi legislator was keen that the shares be traded according to a transparent working mechanism free from theft and fraud. Therefore, the best method developed by the stock markets is based on a series of procedures starting with registering shares in the depository center and ending with fixing the investor's ownership of these shares to conduct later buying and selling operations and obtaining the desired interest and achieving an interest for his account. For the purpose of identifying the details of the mechanism of ownership of unlisted shares, we will divide the study into two topics, we will deal in the first topic with the definition of the depository center and in the second topic the mechanism of clearing, settlement and transfer of ownership of unlisted securities.