Guatemala introduces a financial panic bill

Guatemala's legislature has introduced a bill that would criminalize persons who start rumors about financial problems in the national banking system.

Wednesday, June 25, 2008

Monetary authorities have been invited to clear up questions that some deputies from the Legislation Commission have expressed about how the crime of financial panic will be defined.
Those invited include members of the Monetary Committee and the president of the Bank of Guatemala.

More on this topic

Guatemala: Parliament establishes "financial panic" as a crime

October 2008

It sanctions those who provide false information about the financial situation of the banks in country.

The Department of Communications of Parliament reported via a press release that lawmakers modified the current Penal Code to include this new infraction, which will be punishable with 1 to 5 years and fines of 130 to 6700 dollars.

A Securities Law for Guatemala

February 2014

A bill prepared by the Bank of Guatemala aims to stimulate the domestic market and strengthen it as a regional financial center.

The proposal is to dematerialize securities through book entries and stock market operations which are totally electronic.

"...The proposal assigns responsibility of Supervision to the Superintendency of Banks (SIB), in conjunction with the Monetary Board."

Professional Nicaraguans against the Law of Professional Association

April 2008

Different fields of professionals have entered a Resource of Unconstitutionality against Law 588, the "General law of Professional Associations and Professional Practice." The law was approved by the National Assemblyand passed on Jan. 14.

The plaintiffs are asking the judges of the Supreme Court of Justice to declare the law unconstitutional.

Nicaragua: Credit Card Bill Paralyzed

October 2010

The amendment to the Law on Promotion and Regulation on the Use of Credit Cards (Act 515) would not prosper.

The reason would be the Government´s commitment with the International Monetary Fund (IMF) to dismiss this issue.

According to, a source close to negotiations with the IMF confirmed "that the Government has expressed its commitment that the amendments to Act 515 are a topic which is no longer under discussion."

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