The Moroccan Capital Market Authority (AMMC) has set out its priority actions for 2025 under its 2024–2028 strategic orientations, alongside a recap of key deliverables completed in 2024. The 2025 programme is structured around four themes: mobilising savings and developing sustainable finance, scaling up financial literacy and support for market participants, increasing supervisory efficiency, and improving the AMMC’s organisational and corporate social responsibility performance. Planned 2025 actions include implementing the Law on Undertakings for Collective Investment in Transferable Securities (UCITS) and introducing a dedicated framework for discretionary management, while promoting new instruments through support for the futures market’s operational launch, a securitisation study and a support programme for crowdfunding stakeholders. Sustainable finance work is framed around the National Climate Finance Strategy, including introducing an international ESG reporting framework and establishing a green taxonomy for the financial sector. Market-development measures also include support for enterprises’ access to capital markets, including the SME alternative market, in cooperation with the Casablanca Stock Exchange and the General Confederation of Moroccan Enterprises. On market conduct and financial integrity, the AMMC plans more digitised and targeted supervision through digital inspections, additional inspection missions and SCOP missions focused on topics such as ethics and conflicts of interest, plus awareness campaigns and a handbook on stock market offences. For anti-money laundering and combating the financing of terrorism (AML/CFT), the AMMC plans to prepare for the mutual evaluation cycle scheduled to start in 2026 and to publish a new risk-identification handbook. Financial literacy and market participant support measures include launching an Investment Savings Observatory, contributing to implementation of the Morocco Fintech Center and developing a legislative and regulatory framework for digital assets, as well as launching an international certification for portfolio managers. The AMMC’s 2024 recap cites work to enable the futures market, expanded financial literacy partnerships including an agreement with Mohammed VI Polytechnic University, and sustainable finance engagement including a review of issuers’ ESG reporting practices and adoption of the Climate Finance 2030 strategy by financial authorities. It also reports 35 inspections in 2024 (29 in 2023), ISO 37001 certification for its anti-corruption management system, a cooperation agreement with France’s Autorité des Marchés Financiers, a 2024–2028 data roadmap, continued work on fintech and crypto-asset regulation, and an internal organisational reconfiguration.

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