The AMF in France and the AMMC in (Morocco) are reportedly said to be strengthening their ongoing cooperation.
On 29 October 2024, the Autorité des Marchés Financiers (AMF) and the Moroccan Capital Market Authority (AMMC) signed a cooperation and “mutual assistance agreement’ in the field of capital markets.
The agreement was reportedly signed by the Chairs of the two authorities, Marie-Anne Barbat-Layani and Nezha Hayat, at the Morocco-France Business and Economic Forum organized as part of the recent state visit by the President of the French Republic to the Kingdom of Morocco.
Amid increasing responsibilities, the AMF and AMMC are said to be officially joining forces to support and anticipate “shared challenges,” such as financing the economy, the dual energy and digital transitions, the “emergence of new online financial products and the predominant role of social media,” all with the common and stated goal of “maintaining” financial stability.
Under the terms of this agreement, the AMF and the AMMC have committed to enhancing their mutual knowledge and understanding of one another’s regulatory frameworks, “exchanging good practices, and working together to protect investors and ensure market integrity.”
In addition, the agreement demonstrates the willingness of both authorities to support and develop any action likely to “contribute to the growth of their respective markets.”
The signing of this agreement establishes the privileged and important relationship “between their two countries and our two authorities.”
Marie-Anne Barbat-Layani explained that the agreement will enable them to gain a better understanding of each other’s regulatory frameworks, and thereby contribute to their “mutual development and objectives: an innovative, integrated finance system that serves to finance the economy, and that is vigilant in protecting investor.”
It will also create synergies that will aim to “enhance the attractiveness of our respective financial centres.”
Nezha Hayat, Chairperson and CEO of the AMMC explained that this agreement reinforces their longstanding relationship and testifies the depth of the cooperation between their two nations.
Hayat added that its overall purpose is to significantly improve and strengthen their “regulatory frameworks to address the challenges posed by global structural transformations, as well as the demands for sustainability and technological innovation,” with the goal of contributing to the financing of economic growth.
The AMMC is the regulatory authority for the Moroccan capital market.
The institution’s mission is to ensure the “protection of investments made in financial instruments, and the proper functioning and transparency of the capital market in Morocco.”
A member of the International Organization of Securities Commissions (IOSCO) since 1996, in 2007, the AMMC “signed the IOSCO Multilateral Memorandum of Understanding (MMoU), making Morocco the 44th overall and 3rd African signatory country.”
