Finance

Morocco: Capital Market Regulator sued

Morocco: Capital Market Regulator sued
Monday, 05 October 2020 18:26

Global Nexus, a Moroccan-based asset management company, filed a complaint in the administrative court against the Moroccan Capital Market Authority (AMMC).

According to local media, the complaint was filed by Hynd Bouhia, Head of Global Nexus and connoisseur of the Moroccan financial market having headed the Casablanca Stock Exchange.

AMMC is alleged to have acted by abuse of power on a case in which the stakeholders reached an agreement on the dispute between them. The complaint also raises issues of form such as the type of language used, which allegedly taints the decision of the Moroccan regulator of financial markets with irregularities.

Global Nexus also pleaded for suspension of a decision that would force it to pay a fine of MAD1 million ($100,000). The company was accused of several breaches, particularly in terms of management and the rules applicable to management companies. Hynd Bouhia is herself the subject of complaints by some of her company's clients, who have indicated that they have been victims of fraud and breach of trust, or even forgery of business records.

Idriss Linge

On the same topic
Ethiopia’s ESX is not hindered by slow IPOs but by the deeper challenge of building a market culture that matches its emerging-market...
Telecom operator launches KES40 billion medium-term bond program First KES15 billion tranche offered at a fixed 10.40% rate for five...
16 of Nigeria’s 36 banks have met new capital requirements by Nov. 2025 Recapitalization aims to boost sector strength before March 2026...
Yvon Sana Bangui elected president of the Association of African Central Banks One-year term includes steering governors’ meetings and advancing...
Most Read
01

Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...

Tanzania’s Mobile Money Goes Global: Vodacom Partners with Visa, Alipay, and MTN
02

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
03

Kossi Ténou succeeds Badanam Patoki as president of the AMF-UMOA. Ténou brings over 20 years of e...

Togo’s Kossi Ténou Appointed President of AMF-UMOA
04

JA Africa launches $1.5M digital safety program in four African countries Initiative to ...

Google.org, JA Africa to Train Children, Teachers and Caregivers in Digital Safety
05

Francophone Sub-Saharan Africa hosts 860+ startups but faces deep structural weaknesses EY urges...

Major Tech Reforms Needed for Francophone SSA to Attract More Investment, Report Says
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.