Legal Compatibility Between Listed Companies' Disclosure Obligation and Their Right to Confidentiality
DOI:
https://doi.org/10.64184/ajlps.V3.I3.Y2026.p.667-703.417Keywords:
Disclosure, Confidentiality, Listed Companies, Securities.Abstract
The legislator imposes several legal obligations on companies listed on the stock exchange. Among the most important of these obligations is the disclosure of material company data or information, which aims to enable investors to obtain sufficient information to make their investment decisions. However, this obligation does not mean that the company lacks legal protection, nor does it mean that all its information becomes publicly available. The company has a legitimate right to protect much of its information or data, including trade secrets and insider information. The aim of the law is not to harm the company's interests, but rather to achieve a legal balance where the interests of investors do not conflict with the company's rights. Accordingly, this research aims to study the legal compatibility between the obligation of listed companies to disclose information and their right to maintain confidentiality. This topic is crucial for protecting investors and the market on the one hand, and for preserving the company's rights on the other.
References
Sources
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1. Iraqi Temporary Stock Exchange Law No. (74) of 2004.
2. Iraqi Companies Law No. (21) of 1997, as amended.
3. Baghdad Stock Exchange Law No. (24) of 1991, repealed.
4. Iraqi Civil Code No. (40) of 1951, as amended.
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9. Egyptian Capital Market Law No. (95) of 1992.
10. Executive Regulations of the Egyptian Capital Market Law No. (135) of 1993.
1. Rules for Listing and Delisting Securities on the Egyptian Stock Exchange No. (11) of 2014.
Fifth/ Instructions:
1. Financial Solvency Instructions No. (4) of 2011, as amended.
2. Disclosure Instructions for Companies Listed on the Stock Exchange No. (8) of 2011.
3. Disclosure Instructions for Financial Brokerage Companies No. (9) of 2009, as amended in 2010.
4. Disclosure Instructions for Influencing Ratios No. (10) of 2009.
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