Stock Exchange Issuers: Good Practices to be Mandatory  

Companies registered with the Superintendency of Securities and Exchange in Panama will have to comply with standards of good corporate governance.

Monday, April 4, 2016

The Superintendency of Securities (SMV) of Panama announced the topics that it has been working on with the Institute of Corporate Governance Panama (IGCP), to prepare companies selling products on the stock market to comply with the upcoming implementation of the Good Corporate Government, reported Critica.com.pa.

"... The companies regulated by the SMV will be required to appoint an independent director and the establish good administrative practices. Among the trained personnel that will be required are accountants, business managers, financiers, and general managers."

"... In the view of Maria Elvira Rodriguez, president of the Comisión Nacional del Mercado de Valores in Spain, it is essential that companies have independent directors, risk committees, auditing and ethics officers".



More on this topic

New Rules for Stock Exchanges

August 2017

Panamanian stock market officials are evaluating increased controls on securities houses operating in the country, through the figure of corporate governance.

The Superintendency of Securities in Panama is analyzing the possibility of demanding that the stock brokers fulfill norms of corporate governance, as banks and insurers already do. 

Panama Rejects New Rules for Issuing Securities

November 2016

Limiting the debt of an issuer and an obligation to rate emissions are two of the requirements proposed by the regulator which have not been well received by the Panamanian securities market.

The proposal by the Superintendency of the Securities Market was subject to public consultation, and now "...

Panama: Increase in Emissions on Stock Market

September 2016

Between January and June registrations of securities issues amounted to $4.2 billion, up from the $2.944 billion recorded in 2015.

If the number of new issues registered with the Panamanian Stock Exchange continues to grow as it did in the first half of the year, the figure at the end of 2016 will be the highest in historical terms, surpassing the record of 2013, when $3.579 billion was recorded.

Panama: New Rules for Brokerage Houses

May 2015

In order to prevent a repetition of cases such as that of Financial Pacific, the Superintendency of Securities is preparing legislation which incorporates an obligation to comply with good corporate governance practices.

Although details of the proposal have not yet been released, the Superintendence authorities indicated that "...

 close (x)

Receive more news about Capital Markets

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Looking for Importers and distributors of furniture

Mexican manufacturer of office furniture seeks importers and distributors interested in dealing their products in Central America.
PM Steele is a 100% Mexican company, with more than 67...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Oct 30)
Brent Crude Oil
38.320
Coffee "C"
106.85
Gold
1,879
Silver
23.715