The Casablanca Stock Exchange (BVC) announced Friday the adoption of its new General Regulation which will enter into force in the last quarter of the current year to respond to market developments.
This new version of the General Regulation, developed in close collaboration with the Treasury and External Finance Directorate and the Moroccan Capital Market Authority (AMMC), represents a major step forward in the modernization of the Moroccan stock market and introduces new provisions that give the Casablanca Stock Exchange more flexibility in setting up the tools necessary for the development of the market, says the place Casablanca in a statement.
This flexibility will make it easier to adapt to the expectations of national and international issuers and investors, the source adds, adding that, thanks to these provisions, the BVC will have the opportunity, among other things, to adjust the rules relating to the listing of financial instruments, their stay and their cancellation.
Moreover, the new general regulations set the terms of admission and stay for the new organization with a main market and an alternative market, dedicated to securities issued by small and medium-sized enterprises (SMEs), the statement said, adding each market will have compartments reserved for the different types of instruments and a compartment dedicated to qualified investors.
The new regulation also offers the opportunity to list securities issued by Undertakings for Collective Investment, such as real estate mutual funds (ETUs) and exchange traded funds (ETFs).
More generally, these general regulations, the development of which is part of the adoption of the law n ° 19-14 on the Stock Exchange, brokerage firms and financial investment advisers, promulgated by the Dahir n ° 1-16-151, supports some initiatives of the Roadmap "Ambition 2021" of the BVC.