Panama: Access to Banking Information in Investigations

The Superintendency of Securities may provide access to bank information when investigations because of breaches are carried out in the stock market.

Tuesday, January 10, 2017

The decree took effect on December 17, 2016, and states that when the Superintendency of Securities (SMV) requires information on bank depositors and liabilities, this will be requested through the Superintendency of Banks of Panama. In addition, the two regulators signed a memorandum of understanding to facilitate exchange of information. 

From Decree 408 published in La Gaceta on December 19, 2016:

"... Article 1. Area of application. This procedure applies to queries,   
cooperation and exchange of banking information to be made between the  
Superintendency of Banks of Panama and the Superintendency of the Securities Market within the context of an application:   

1.  At the international level, assistance or international cooperation of any authority or foreign supervisory body with whom the stock market Superintendency has signed a bilateral memorandum of understanding or which forms part of a multilateral memorandum of understanding..."

Read full decree (in spanish).

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