The Moroccan Capital Market Authority (AMMC) is putting for public consultation, from 10 to 24 November 2020, a draft circular on the obligations of vigilance and internal monitoring incumbent on organizations and persons subject to the control of the AMMC.

"In accordance with the provisions of Article 63 of its General Regulation, the AMMC is putting for public consultation, from 10 to 24 November 2020, a draft circular on the obligations of vigilance and internal monitoring incumbent on the bodies and persons subject to the control of the AMMC, which repeals and replaces Circular No. 01/18," the capital market regulator said in a statement.

The draft of the new circular is part of the alignment of existing provisions with international standards on the fight against money laundering and the financing of terrorism (FATF Recommendations) and the taking into account of legislative and regulatory developments at national level, notes the same source.

In addition, the draft of the new circular proposes a redesign of the framework of the current circular, to give more clarity to the persons subject to the assimilation of the obligations incumbent on them in this area and to comply with the legal provisions in force, continues the press release.

Any comments or proposals may be made in writing and sent to the AMMC by email at the following email address: [email protected], notes the AMMC.