Circulaire AMMC n° 03/19 relative aux opérations et informations financières (homologuée par arrêté MEF n°1704-19)

The disclosure engine of the market, in force since 2019. Imposes on issuers making a public offering: quarterly indicators, a half-year financial report, an ANNUAL FINANCIAL REPORT (full financial statements, statutory auditors' report and special report, management report, management commentary), immediate press release upon the board meeting approving annual/half-year accounts, and - crucially - an annual ESG REPORT (see ESG rows). It also sets the prospectus templates submitted for AMMC visa. This circular is the single most important text for anyone building a standardised Moroccan filings dataset.