Guatemala Facilitates International Stock Purchases
A new regulation will allow Guatemalans to buy international securities directly.
Thursday, March 19, 2009
The Guatemalan Registry of Securities and Goods published regulations for the International Quotes System (SIC) which is part of the amendments to the Securities Act (Ley de Valores).
The visible part is the red tape and high costs of participation. The hidden part is the conflict of interest of its owner, the same commercial banks that offer loans for greater profit.
The increased demand for bank credit from consumers and businesses plus the financing needs of the government, is putting pressure on the capital market and interest rates.
In 2009 the Panamanian securities market registered half the volume of issued securities of 2008.
Amendments to securities regulations are being prepared in order to allow local stock brokers to buying shares of listed companies in developed markets.
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