The Superintendency of the Panama Stock Exchange is preparing a regulation that prevents people with certain licenses from holding the same positions in more than one entity.
The regulation was submitted to consultation by the Superintendency of Securities and Exchange in Panama and received several proposed changes, mainly from the Panamanian Chamber of Capital Markets (Capamec), which believes that "... by limiting 'licensing of natural persons in the same institution they are forcing institutions with small operations to hire outsiders to fill that position, if they dont have a replacement as referred to by the article.'"
An article in Elfinancierocr.com reports that "the new head of the Superintendent of Securities (Sugeval), Carlos Arias, in what has been called his plan for the short term, included the possibility of implementing a certification or registration process for investment advisers, portfolio managers and investment or structuring banks. "
Chicas Vilchez & Ruiz is a professional finance and accounting firm providing Auditing, Consulting, Outsourcing, and Tax services in El Salvador, Central America and the United States.
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