Commission d'Organisation et de Surveillance des Operations de Bourse

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• 2026-09-29Position COSOB No. 1/2026 on Encouraging Access for High-Growth Innovative Companies to the Growth Segment of the Securities Exchange
• 2026-07-15Instruction COSOB No. 26-07 of July 15, 2026, Fixing the Conditions and Procedures for the Registration of Statutory Auditors of Venture Capital Collective Investment Undertakings
• 2026-07-15Instruction COSOB No. 26-04 of July 15, 2026, Defining the Conditions and Procedures for the Registration of Stock Market Promoters
• 2026-07-15COSOB Instruction No. 26-05 of July 15, 2026 defining the conditions and procedures for the registration of valuation experts for companies whose equity securities are subject to an application for admission to trading on the main or growth compartment
• 2026-07-15Instruction COSOB No. 26-06 of July 15, 2026, Setting Conditions and Procedures for the Registration of External Evaluators of Collective Investment Undertakings
• 2026-02-25Instruction COSOB No. 26-01 of February 25, 2026, Setting the Transmission Periodicity of Documents and Information by Participatory Investment Advisors (CIP)
• 2025-11-30Instruction COSOB No. 25-07 of November 30, 2025 Defining the Conditions and Procedures for the Registration of Stock Market Promoters
• 2025-11-30COSOB Instruction No. 25-08 of November 30, 2025, Setting the Procedures for Authorization to Exercise the Activity of Title Safekeeping Account Management
• 2025-10-22COSOB Guidelines No. 04-2025 of October 22, 2025, on the Self-Assessment by Obliged Entities of Money Laundering, Terrorist Financing, and Proliferation Financing Risks (Version 0.2)
• 2025-10-22COSOB Guidelines No. 01-2025 of October 22, 2025, on Procedures for Identifying and Verifying Beneficial Owners (Version 0.2)
• 2025-10-22COSOB Guidelines No. 02-2025 of 22 October 2025 on Customer Due Diligence Measures (Version 0.2)
• 2025-10-22COSOB Regulation No. 25-04 of October 22, 2025, on the Disclosure of Information to be Published by Listed Companies
• 2025-10-22COSOB Guideline No. 06-2025 of October 22, 2025, on High-Risk Countries
• 2025-10-22COSOB Guideline No. 05-2025 of October 22, 2025, on Politically Exposed Persons (PEPs)
• 2025-10-22COSOB Guidelines No. 03-2025 of October 22, 2025, on Freezing and/or Seizure Measures for Targeted Financial Sanctions (Version 0.2)
• 2025-10-22Instruction COSOB No. 25-06 of October 22, 2025 Amending Instruction 07-24 on AML/CFT/CPF Customer Due Diligence
• 2025-07-24Law No. 25-10 Amending and Complementing Law No. 05-01 on the Prevention and Fight Against Money Laundering and the Financing of Terrorism
• 2025-06-25COSOB Instruction No. 25-02 of June 25, 2025 Fixing the Elements Constituting the File Attached to the Approval Application for Venture Capital Collective Investment Undertakings
• 2025-06-25COSOB Instruction No. 25-04 of June 25, 2025, Fixing the Conditions and Procedures for the Registration of Statutory Auditors of Venture Capital Collective Investment Undertakings
• 2025-06-25COSOB Instruction No. 25-05 of June 25, 2025, Regarding Qualified Investors
• 2025-06-25Instruction COSOB No. 25-03 of June 25, 2025 Fixing the Conditions and Procedures for the Registration of External Evaluators of Collective Investment Undertakings
• 2025-04-01Guidelines on Preventing Criminal Acquisition of Majority Shareholdings in Listed or Publicly Offered Companies
• 2025-03-27Guidelines No. 04/2025 of March 27, 2025 on the Self-Assessment of Entities Subjected to Money Laundering, Terrorism Financing, and Proliferation Financing Risks
• 2025-03-27COSOB Guidelines No. 03/2025 of March 27, 2025 on Targeted Sanctions
• 2025-03-27COSOB Guidelines No. 02/2025 of March 27, 2025 on Due Diligence Measures Towards Clients
• 2025-03-26Order Approving COSOB Regulation No. 25-03 on the Organization of Administrative and Technical Services
• 2025-02-26Instruction COSOB No. 25-01 of February 26, 2025, Establishing Rules for Implementing Competence and Honorability Tests for Executives of Entities Subject to COSOB Supervision in the Fight Against Money Laundering, Terrorist Financing, and Proliferation Financing
• 2025-01-22Ministerial Decree Approving COSOB Regulation No. 25-01 on Remote Electronic Attendance and Voting at General Assemblies of Listed Companies
• 2024-12-31Instruction COSOB No. 24-10 of December 31, 2024, on Stock Exchange Order Placement Methods
• 2024-11-27Instruction COSOB No. 24-09 of November 27, 2024, on the Annual Report on the Anti-Money Laundering, Counter-Terrorist Financing, and Counter-Proliferation Financing Framework
• 2024-11-21Instruction COSOB No. 24-07 of November 21, 2024 on Client Vigilance Measures for the Prevention and Fight Against Money Laundering, Terrorism Financing, and Proliferation Financing
• 2024-10-07COSOB Regulation No. 24-01 on the Prevention and Fight Against Money Laundering, Terrorism Financing, and Financing of Proliferation of Weapons of Mass Destruction
• 2024-08-01Article 95: Amendments to the Securities Exchange Decree Regarding COSOB Cooperation
• 2024-07-10Information and Awareness Guide: Combating Money Laundering and Terrorist Financing - Securities Market
• 2024-07-01Order of 11 Dhou El Kaada 1445 (May 19, 2024) fixing the rates and collection procedures for fees collected by the COSOB
• 2024-05-29Instruction COSOB No. 24-05 of May 29, 2024 Defining Conditions and Procedures for Registration of Valuation Experts for Companies Seeking Admission to the Main or Growth Market
• 2024-05-29Instruction COSOB No. 24-04 of May 29, 2024 Fixing the Model of the Sponsorship Agreement by the Stock Exchange Promoter for Companies Seeking Admission to the Growth or Emergent Market
• 2024-05-01COSOB Recommendation on the Use of Shareholder Current Accounts by Venture Capital Companies
• 2024-05-01Recommendation on Minimum Information to be Provided by Stock Market Intermediaries to Investors
• 2024-05-01Code of Deontology and Ethics of the Commission for the Organization and Supervision of Stock Exchange Operations (COSOB)
• 2024-04-14Executive Decree No. 24-129 of 30 Ramadan 1445 Modifying Fees for the Stock Market Organization and Surveillance Commission
• 2024-04-01Legislative Decree No. 93-10 of May 23, 1993, Relating to the Securities Exchange Market, as Amended and Completed
• 2024-03-27Instruction COSOB No. 24-01 of March 27, 2024 on Qualification Conditions for the CEO of a Stock Exchange Intermediary Company and the Head of the Stock Exchange Intermediary Structure in Banks and Financial Institutions
• 2024-03-27Instruction COSOB No. 24-02 of March 27, 2024, on the Procedures for Submitting Applications for Registration of Listed Securities Negotiators
• 2024-03-27COSOB Guidelines No. 01/2025 of March 27, 2024 on Identification and Verification Measures for Beneficial Owners
• 2023-11-07Instruction COSOB No. 23-02 of November 7, 2023, Establishing Due Diligence Requirements for Participatory Investment Advisors During Project Selection
• 2023-11-07Instruction COSOB No. 23-01 of November 7, 2023 Fixing the Elements Constituting the File Attached to the Application for Approval of the Participative Investment Advisor
• 2023-11-07Instruction COSOB No. 23-03 of November 7, 2023, specifying the information to be contained in the information document published by the participatory investment advisor
• 2023-10-25COSOB Regulation No. 23-04 of October 25, 2023, Relating to the General Regulations of the Securities Exchange
• 2023-10-25COSOB Regulation No. 23-03 of April 12, 2023, Fixing Qualification Rules and Registration Conditions for Agents Authorized to Conduct Securities Trading on the Stock Exchange and Issuing Professional Cards
• 2023-04-12COSOB Regulation No. 23-02 of April 12, 2023, Fixing the Management and Intervention Conditions of the Good Performance Guarantee Fund for Financial Market Operations and Contribution Calculation Rules
• 2023-04-12COSOB Regulation No. 23-01 of April 12, 2023 Fixing the Conditions for Approval, Exercise, and Control of Participatory Investment Advisors
• 2023-02-08Law No. 23-01 Modifying and Complementing Law No. 05-01 on the Prevention and Fight Against Money Laundering and Terrorist Financing
• 2021-11-01COSOB IT Usage Charter
• 2018-06-28Obligation to Execute Client Orders at the Best Market Conditions
• 2018-06-28Obligation to Execute Client Orders at the Best Market Conditions
• 2017-10-23Treatment of Block Transactions and Orders with a Size Greater Than or Equal to the Normal Block Transaction Size – October 23, 2017
• 2017-10-23Treatment of Block Transactions and Orders with Size Greater Than or Equal to Normal Block Transaction Size
• 2016-12-18Instruction COSOB No. 16-04 of December 18, 2016 on the Functions and Qualification and Registration Conditions of the Compliance Officer
• 2016-10-25COSOB Regulations Nos. 16-03 and 16-04 on Investment Fund Management Company Organization and Professional Ethics
• 2016-07-25Executive Decree No. 16-205 of July 25, 2016, on the Establishment, Management, and Exercise of Investment Fund Management Company Activities
• 2016-04-18COSOB Instruction No. 16-03 of April 18, 2016 Fixing the Elements Constituting the File Attached to the Application for Approval as a Stock Exchange Intermediary
• 2016-02-24Instruction COSOB No. 16-02 of February 24, 2016, on the Honesty Requirements for the Executive of a Commercial Stock Exchange Intermediary
• 2015-04-15COSOB Regulation No. 15-01 of April 15, 2015 on the Approval Conditions, Obligations, and Supervision of Stock Exchange Intermediaries
• 2012-02-13Ordinance No. 12-02 of February 13, 2012, Amending and Completing Law No. 05-01 on the Prevention and Fight Against Money Laundering and Terrorism Financing
• 2010-06-15Instruction COSOB No. 10-01 of June 15, 2010, regarding documents and information the SGBV must transmit to the COSOB
• 2010-06-15Instruction COSOB No. 10-02 of June 15, 2010, on Documents to be Transmitted to the COSOB by the Central Securities Depository
• 2010-05-30Decree of May 30, 2010 Establishing the Model for the Commitment and Defining the Practical Rules for Investment Capital Companies to Hold Participations and Exercise Control
• 2009-11-18Order Approving COSOB Regulation No. 09-03 Fixing Commission Calculation Rules for the Stock Exchange Management Company
• 2009-07-12Instruction COSOB No. 09-01 of July 12, 2009, Setting the Conditions for Over-the-Counter Trading of Listed Bonds
• 2009-03-14Decree of March 14, 2009 defining the information required to support the authorization application for investment capital activities
• 2008-12-27Order of 27 December 2008 fixing the competence and professionalism criteria for the management of investment capital companies
• 2008-02-11Executive Decree No. 08-56 of February 11, 2008, on the conditions for exercising the activity of investment capital companies
• 2006-06-24Law No. 06-11 of June 24, 2006, Relating to Venture Capital Companies
• 2006-01-15Executive Decree No. 06-05 of January 9, 2006 fixing the form, model, content and acknowledgment of receipt of the suspicion declaration
• 2004-11-10COSOB Regulation No. 04-02 of November 10, 2004, on the Conditions for Off-Exchange Trading of Listed Bonds
• 2004-09-09COSOB Regulation No. 04-03 of September 9, 2004 Relating to the Guarantee Fund
• 2004-07-08Regulation COSOB No. 04-01 of July 8, 2004, Amending and Complementing Regulation COSOB No. 96-02 on Information Disclosure by Companies Issuing Securities
• 2003-12-21Instruction COSOB No. 03-02 of December 21, 2003: Specifications for Securities Account-Keeping and Safekeeping Agents
• 2003-12-21Instruction COSOB No. 03-03 of December 21, 2003, on the Model Account Opening Agreement Between Authorized Account-Keeping and Custody Service Providers and Their Clients
• 2003-12-21Instruction COSOB No. 03-04 of December 21, 2003, on the Model Mandate for the Administration of Registered Securities
• 2003-12-21Instruction COSOB No. 03-05 of December 21, 2003 Defining the Standard Model for Threshold Crossing and Intent Declarations
• 2003-09-15Order Approving COSOB Regulation No. 03-01 on the General Regulations of the Central Securities Depository
• 2003-03-18COSOB Regulation No. 03-02 of March 18, 2003, Relating to the Maintenance of Securities Custody Accounts
• 2003-03-18COSOB Regulation No. 03-03 of March 18, 2003 on the Declaration of Crossing Participation Thresholds in the Capital of Listed Companies
• 2003-03-18COSOB Regulation No. 03-04 of March 18, 2003 Amending and Complementing Regulation No. 97-01 Regarding IOB Participation in the Capital of the SGBV
• 2003-03-18COSOB Regulation No. 03-05 of March 18, 2003, Relating to Participation in the Share Capital of the Central Securities Depository
• 2002-05-14Order of May 14, 2002 Establishing the Accounting Plan for Collective Investment Schemes in Securities (OPCVM)
• 2000-06-11Instruction COSOB No. 2000-01 of June 11, 2000, Establishing Prudential Management Rules for Stock Exchange Intermediaries
• 1999-03-30Instruction COSOB No. 99-02 of March 3, 1999, Regarding Registers to be Maintained by Stock Exchange Intermediaries
• 1999-03-30Instruction COSOB No. 99-04 of October 11, 1999, on Coupons of Debt Securities
• 1999-03-30Instruction COSOB No. 99-03 of June 16, 1999, Regarding the Issuance of the Professional Card
• 1998-08-13Decree of August 13, 1998 implementing Article 36 of Ordinance No. 96-08 regarding Collective Investment Schemes
• 1998-08-05Order of August 5, 1998 implementing Article 52 of Ordinance No. 96-08 regarding Collective Investment Undertakings in Securities
• 1998-05-20Executive Decree No. 98-170 of May 20, 1998, on Fees Collected by the Stock Market Organization and Supervision Commission
• 1998-04-30Instruction COSOB No. 98-01 of April 30, 1998, on the Admission of Securities to Stock Exchange Trading
• 1997-11-30Instruction COSOB No. 97-03 of November 30, 1997, Implementing Regulation COSOB No. 96-02 on Information to be Published by Companies and Organizations Making a Public Offering
• 1997-11-25COSOB Regulation No. 97-04 of November 25, 1997, concerning Collective Investment Schemes in Securities (UCITS)
• 1996-12-28Executive Decree No. 96-474 of December 28, 1996, Fixing Minimum Capital for SICAVs and Initial Assets for FCPs
• 1996-06-22COSOB Regulation No. 96-02 of June 22, 1996, on Information to be Published by Companies and Bodies Making a Public Offering of Securities
• 1996-03-11Executive Decree No. 96-102 of March 11, 1996, implementing Article 32 of Legislative Decree No. 93-10 on the securities exchange
• 1996-01-10Ordinance No. 96-10 of January 10, 1996, amending and supplementing Legislative Decree No. 93-10 on the securities exchange
• 1996-01-10Ordinance No. 96-08 of January 10, 1996, on Collective Investment Schemes in Securities
• 1994-06-13Executive Decree No. 94-176 of June 13, 1994, implementing Article 61 of Legislative Decree No. 93-10 on the securities exchange
• 1994-06-13Executive Decree No. 94-175 of June 13, 1994, implementing Articles 21, 22, and 29 of Legislative Decree No. 93-10 of May 23, 1993, relating to the securities exchange
• undatedLaw No. 03-04 of 17 February 2003 Amending and Complementing Legislative Decree No. 93-10 Relating to the Securities Exchange
• undatedBC-FT Risk Assessment Report in the Securities Sector March 2025
• undatedRisk Assessment Report on Money Laundering and Terrorist Financing Risks Related to Virtual Assets
• undatedInstruction CTRF No. 03-2023 on Obligations Regarding Politically Exposed Persons
• undatedInstruction CTRF No. 02-2023 on Financial Institutions' Obligations for Combating Money Laundering, Terrorist Financing, and Proliferation Financing
• undatedLaw No. 05-01 of 6 February 2005 on the Prevention and Fight Against Money Laundering and Terrorism Financing
• undatedLaw No. 15-06 of 15 February 2015 amending and complementing Law No. 05-01 on the prevention and fight against money laundering and terrorist financing
• undatedDecree of 29 May 1999 adapting the national chart of accounts to the activities of stock exchange intermediaries
• undatedInstruction No. 24-06 on the Procedures for COSOB's Supervision of Investment Capital Companies
• undatedCOSOB Regulation No. 24-02 of October 23, 2024, on Venture Capital Collective Investment Undertakings
• undatedInstruction COSOB No. 26-03 of March 25, 2026 Establishing the Indicative List of Facts or Information Qualifiable as Important Information
• undatedInstruction COSOB 26-02 Fixing the Content of Annual and Semi-Annual Reports for Issuers and Key Financial Indicators for Quarterly Releases
• undatedCOSOB Regulation No. 97-01 of 18 November 1997 on the participation of stock exchange intermediaries in the capital of the securities market management company