As a Central Depository, Maroclear complies with all national laws that are directly and indirectlyrelated to its business
Our goal is to create long-term value as a reliable cornerstone of financial markets by providing robust and relevant services in full compliance with existing national and international laws and regulations.
All of our strategic initiatives are aimed at strengthening the organization, such as improving our control systems, developing a risk-aware culture and meeting the specific requirements of all applicable legislation.
In the case of Central Depository activities, the clarity and predictability of applicable law in determining who owns the underlying assets of a transaction is essential. If there is legal uncertainty as to the ownership of the security or the transaction, this is likely to alter investor confidence in the market. For this purpose, MAROCLEAR guarantees to its stakeholders, in all transparency, the flawless application and the respect of all the regulatory requirements. For MAROCLEAR, the rules set out in "Law No. 35-96 on the establishment of a Central Depository and the establishment of a book-entry system" include provisions that define the operation of the Central Depositary’s activities and which adequately answer the questions of applicable law, in particular in terms of protecting investments and investors.
The transformation of the financial markets, the development of regulations and technologies, are accompanied by the evolution of the threats that force MAROCLEAR to continually rethink the way it apprehends and responds to risks. MARCOLEAR’s role in risk management involves the identification, the evaluation, the treatment, and the effective and efficient monitoring of existing and potential risks, and the implementation of measures to control such risks. Thus, MAROCLEAR relies on its experience and expertise to continually strengthen its risk management capabilities, taking into account the evolution of its environment and the requirements of its stakeholders.
Systemic risk, in the financial market environment, is defined as the risk that the effect of an adverse event in the financial services sector will spread and lead, in a chain reaction, to significant adverse effects on the aggregate system, which may cause a general economy crisis. To this end, MAROCLEAR is making every effort to identify the potential systemic threats by broadening its overall risk management framework. MAROCLEAR is pushing forward a number of important initiatives to strengthen its organization and that of the financial market in relation to the risks inherent to its activities.
We are attentive to the data protection aspects of our stakeholders and we guarantee the transparency, security and quality of our data. In this sense, MAROCLEAR has put in place measures to protect against the misuse of personal data collected that would be likely to infringe privacy. The systems in place make it possible to ensure that each data processing – as well as the purpose thereof – is lawful and legitimate, and complete the legal formalities with the National Commission for the Control of the Protection of Personal Data (CNDP). Cyber sécurité Dans l’ère de la digitalisation, MAROCLEAR place la cyber sécurité au cœur de ses préoccupations afin de garantir la protection des parties prenantes, de leurs données et de ses systèmes d’information. En tant que fournisseur de services financier et infrastructure d'importance systémique, nous prenons continuellement en considération les cybers-risques, et mesurons notre capacité à leur faire face au travers d’un cadre de gestion de risque propre à cet aspect. Cette démarche s’appuie sur les recommandations publiées par le Comité sur les paiements et les infrastructures de marché (CPIM), sur « La cyber-résilience dans les infrastructures des marchés financiers ».
In the era of digitalization, MAROCLEAR places cyber security at the heart of its concerns in order to guarantee the protection of stakeholders, their data and its information systems. As a systemically important financial services provider and infrastructure, we continually take into account cyber risks, and measure our ability to deal with them through a risk management framework specific to this aspect. This approach is based on recommendations issued by the Committee on Payments and Market Infrastructures (CPIM) on "Cyber Resilience in Financial Market Infrastructures".