Panama Warns about Unregulated Finantial Companies

The country's National Securities Commission warns that there are more than 100 unregulated companies registered in the stock market.

Friday, July 23, 2010

The list of unregulated companies is published on the website of Panama's National Securities Commission (CNV), which advises that negotiations with these companies are carried out at the risk of the clients.

"Any companies selling securities should be registered with us, if not they are committing a crime. This is why we issue the warning and will even close them down if they have a physical headquarters, in accordance with due judicial process," stated Juan Manuel Martans, president of the CNV to Pa-digital.com.pa.

More on this topic

Rules for Forex Market in Panama

January 2013

Some draft rules for the regulations are being considered by the board of the Superintendency of Securities Market, before being put to public consultation.

According to an article in Capital.com.pa, the Superintendent Alejandro Abood, without giving particular details, said that "the new agreement will regulate permitted leverage margins and determine the reports that the Forex trader, which in this case are brokerage firms, must submit to the Superintendency of securities (VPS).

Central Bank of Costa Rica promotes participation in exchange market

September 2008

The BCCR is pushing for greater participation in the wholesale money market known as the Foreign Exchange Market (Monex).

Two legal modifications are in process that will allow new participants to join the stock exchange system on their own and at their own risk; the other seek to expand the number of participants, to include others such as exporters and importers.

Panama: Changes in Forex Market

April 2013

Financial sector operators have submitted their suggestions to update the rules of the activity, including a revision of the income limit.

A review of the ceiling of 30% on income from net currency trading with brokerage houses is one of the proposals received by the Superintendency of Securities (VPS), in this case driven by executive vice president and general manager the Stock Exchange, Roberto Brenes.

Venezuelan Interest in Panamanian Securities Market

July 2009

10 stock brokerages from Venezuela have filled the paperwork to operate in Panama.

Juan Manual Martans, president of the Panamanian securities commission, was interviewed by newspaper La Estrella. He remarked the stability and favorable conditions of the country's market as reasons behind the interest of these brokerages.

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Challenge Consulting Group S. A.

Consulting firm especialized in financial and securities ehchange markets in Latinamerica
Operates in Panama
Phone: (507) 6729 5697

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