Moroccan anti-bribery regulations do not explicitly apply to legal persons. However, it is conceivable that the expression "any person" in Article 250 might incur their criminal liability. The position...

1. Are takeovers of listed companies regulated? Yes – The 26-03 Act (amended and supplemented by the 46-06 Act and 19-14 Act) regulates public takeover offers for listed companies on the stock market...

1. Have specific legislative or regulatory provisions been adopted by the Government in relation to the increase in the price of raw materials? In order to mitigate the impact of rising prices on companies...

CMS Francis Lefebvre acted as legal and tax advisor to the Moroccan bank SOFAC and its management company subsidiary, SOFAC Structured Finance, in relation to the securitisation of debt from vehicle leasing...

Here’s a selection of our energy sector credentials in Morocco: Vinci Energies - Regular assistance of the group in the field of public procurements in Morocco or in Africa. Recent projects include the review of the contracts to be concluded with Nareva holding concerning the Tarfaya wind farm projectEDF - Assistance of this International integrated electricity company for the determination of the best structuring (tax) scheme in the framework af a public market related to solar en­ergyPan-Afric­an  petroleum player - Assistance of the group in local foreign exchange regulatory matters that had huge impacts at the international levelGlobal oilfield services and equipment company - Advising on a project with a Moroccan oil company, holder of an exploration permit, for the financing of the works and exploration operations. Management of the drafting of the memorandum (analysing the project under Moroccan law (banking, Islamic finance, etc.), and the related questions and follow-ups. Company specialised in LPG gas road transport and distribution - Assistance in the negotiation with the Moroccan Tax Administration in the framework of a tax audit