Morocco Capital Market Supervisory Authority (AMMC)

The Moroccan Capital Market Supervision Authority was established in 1993.

Forex Regulatory Tips

According to the official website information query, Morocco AMMC does not regulate leveraged foreign exchange.

Organization Profile

Institutional nature
Government agencies
Institutional History
The Moroccan Capital Market Supervisory Authority AMMC was established in 1993.
Regulatory functions
AMMC has the following privileges:
1. Promote the orderly development of finance
2. Develop notification rules
3. Authorize or express opinions on these products: UCITS, Venture Capital Funds and Securitization Trusts
4. Check the approval documents of stakeholders (brokerage firms, venture capital funds and securitization trust management companies)
5. Approval of the charter of the financial company's public offering or repurchase program
6. Handling complaints
7. Monitoring, investigation and sanctions rights: In order to ensure that financial transactions comply with market rules and ensure their integrity, AMMC may investigate financial companies when necessary. When the facts prove to be true, AMMC has the right to sanction these companies
8. Control over issuers’ financial reporting: AMMC ensures that they comply with their disclosure obligations for annual and interim financial statements and disclose all material information
9. Supervision of stakeholders: Contracting parties must be securities dealers, stock exchanges, account holders, centralized custody and management companies.
Regulatory Objectives/Scope
The main objective is to provide market authorities with the necessary powers and adequate means of action to ensure effective oversight of the market and professionals, and to sustain the market development process more generally.
As an authority on the financial market, AMMC was established by the "Dahir" (Royal Decree), enacting Law No. 1-13-21, including Law No. 43-12, whose tasks are:
1. Ensuring the protection of savings invested in financial instruments;
2. Ensure equal treatment of investors and ensure the transparency and integrity of capital market and investor information;
3. To ensure the normal operation of the capital market and to ensure the implementation of legislative and regulatory provisions;
4. Ensuring control over the activities of the different organisations and persons under its control;
5. Ensure that individuals and institutions under its control comply with laws and regulations related to the fight against money laundering;
6. Promote financial education of savers;
7. Assist the government to supervise the capital market.
Tel: 212(05)37 68 89 00
Fax: 212(05)37 68 89 46
Email: [email protected]
Address: Moroccan Capital Market Authority6 rue Jbel Moussa Agdal-Rabat Maroc

Regulatory Inquiries

Step 1 Enter the official website of AMMC in Morocco:
Step 2 Click "Authorised firms-products";

Step 3 After entering the "Authorised firms-products" page, select the type of company you want to inquire about. At present, 3 types of licensed company information can be found: Management firm (management company), Brokerage firm (brokerage company), Custodian (custody company);

Step 4 Now take Atlas Capital Bourse as an example to demonstrate how to find its related information. Click to enter "Custodian", search and find "Atlas Capital Bourse", click the name on the left to enter the details page;

Step 5 After entering the company details page, you will see the company name, company type, address, telephone, fax, chairman of the board, shareholders, capital, license number, license effective date, website address, financial product category and other information.

Regulatory complaints

Morocco AMMC does not regulate leveraged foreign exchange, but if you are not satisfied with other investments, you can file a complaint in 3 steps:
Step 1: Contact the financial company directly
When you have a complaint, the best way is to contact the financial company directly to help resolve it.
Step 2: If you are not satisfied with the processing results of the financial company, you can file a complaint with the Moroccan AMMC
If you are not satisfied with the dealer's response, you can contact AMMC Morocco for a free complaint.
There are 3 ways to complain:
(1) Submit a complaint to the Moroccan AMMC online.
Online Complaint Address:
Online Complaint Form Translation Reference Template (please click the image below to view the template):
(2) Submit a complaint to the Moroccan AMMC by mail.
Email Complaint Address: Enquê[email protected]
(3) Letter to submit a complaint to the Moroccan AMMC.
Address for complaints by letter: 6 rue Jebel Mousa, Agdal-Rabat
Step 3: File a complaint in court
If you are not satisfied with the response from the financial company or the Moroccan AMMC, you can file a complaint in court.

Example of punishment


1. In a company listed in Casablanca, what kind of equity is allowed to foreign capital?
A: There are no restrictions on foreign ownership of companies listed on the Casablanca Stock Exchange. For domestic and foreign ownership, if the investment value exceeds 40%, the transaction falls within the scope of public offering (IPO) regulation, and investors should prepare a prospectus for the takeover offer and submit it to the Capital Markets Authority for approval. More than 95% of investors must apply for a public offering to exit.
2. Can I make a complaint anonymously?
A: Complaints can be anonymous in the following cases. You report suspected violations of any rules related to the functioning of the market, rules of professional conduct or market abuse (price manipulation, insider trading, posting false or misleading information) without the fact of loss of any kind arising from the alleged allegations.
3. Under what circumstances can a complaint be made to AMMC?
A: Complaints by professional bodies under the control of AMMC (stockbrokers, banking and securities custody services, management companies, etc...) are within the purview of AMMC. AMMC will lead the necessary investigations to verify the allegations in your complaint and whether they fall within its purview. If so, AMMC will initiate an investigation through lawful means if necessary.
4. What should I pay attention to when making a complaint by letter or email?
A: Please note the following points:
1) Mention the word "complaint" in the letter for direct transfer to the competent authority. This may reduce complaint processing time and ensure better confidentiality;
2) List any relevant account, product and operational details to better understand the complaint;
3) List events in chronological order;
4) Attach copies of all relevant documents, including statements of accounts, confirmed transactions and various copies exchanged within the scope of this complaint;
5) For security reasons, do not send originals.

Related Links

Morocco Tariff:
Moroccan Association of Brokerage Firms:
Moroccan Chamber of Deputies:
Moroccan National Accounting Council:

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