In the first auction only large investors may take part and from the second semester issues will be made for short terms and low amounts, aimed at small investors.
Using the online platform State debt securities can be bought by local investors, through brokers approved by the stock exchange.The regulations published in the official newspaper La Gaceta establish how the auctions will be conducted, and the settlement and interest payments.
The retroactivity to July 2012 of the bankruptcy decreed in October 2015 has opened up a complicated process that does not just affect those who invested directly in the project.
Security holders of the two issues by the company, who bought apartments as investments, owners of the residential complex who do not share ownership of common grounds such as the pool, and buyers of hundreds of vacation packages that can not be used, are aggrieved by the failure of a tourism and residential project of huge proportions in the Panamanian Pacific.
The Superintendency of Securities is working on a proposal that would make mandatory to have a risk rating on each debt issuance registered in the panamanian market.
The initiative put forward by the authorities of the Panamanian stock market comes days after the collapse of the Panamanian RG Hotels Company, which in 2012 issued bonds with unrated debt risk, leaving investors who bought these securities unprotected.
The country that once had the best institutions in Central America is now hiring an agency of the UN created to solve problems in countries lacking those institutions.
With full confidence, senior officials responsible for public infrastructure projects have justified the award of the United Nations Office for Project Services (UNOPS), indicating that through this measure they will be able to sidestep the control exercised by the Comptroller General of the Republic over the award and performance of government contracts.
A draft bill on the stock market currently being discussed may not be consistent with what has been planned for the development of the financial sector.
Incorporating mechanisms for access to the stock market for small savers is part of the initiatives contemplated in the reform bill sent for consultation in December, one which industry representatives considered difficult to implement, because of the costs involved.
Investors should ensure that those who manage their assets must have sound processes and investment controls.
Summary of Fitch's special report "Know Your Manager: Investor's Guide to Identifying a Robust Investment Process.
Current level of macroeconomic uncertainty and market volatility has increased the need for investment processes and stronger controls for asset managers as well as a clear understanding of these processes by the investor.
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