The Superintendency of Securities is preparing for 2016 two new regulations and other reforms already in place to attract more investors.
The regulations relate to Mediation and Complementary and Venture Capital Activities, and reforms to the Regulations on Management Companies and Investment Funds, Regulation of Exchanges, the Custody Rules and Regulations on Corporate Governance.
Lowering the tax on transactions for non-domiciled investors from 20% to 3% had a positive effect on the performance of the stock market in 2015, which grew by 6% compared to 2014.
The forecast made by Rolando Duarte, president of the Stock Exchange of El Salvador (BVES), is that this type of investment will continue to grow, thanks to the incentive which was first implemented in 2015.
In Panama reports state that $15 million in assets have been recovered in the process of forced liquidation of the brokerage firm Financial Pacific, an amount which covers only 70% of the total invested by customers.
Problems in the Panamanian stock market continue, and now it is the Liquidating Board of brokerage firm Pacific Financial which is giving the bad news to customers of the company.
The end of the movie is uncertain for buyers of apartments, financial institutions, suppliers and investors, who are the creditors of more than $65 million in the tourist and residential resort in Panama.
Although the Panamanian real estate market had already been noticed for the relative ease with which developers fail to fulfill their promises, the RG Hotels case demonstrates the urgent need to strengthen due diligence prior to any investment in this sector.
The connection to the global capital market will allow for diversification of the sources of financing for local businesses and access to a broader investor base.
The agreement signed between the Panama Stock Exchange, Euroclear Bank and Central Latinoamericana de Valores will provide a direct link to international financial markets.
Prensa.com reports that "the link, which is scheduled for April 29, will allow for the negotiation, settlement and custody of securities issued locally. In this way, according to the Ministry of Economy and Finance, Panama's position as a key financial center for Latin America is strengthened. "
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.