The National Securities Commission has ordered the reorganization of the leading brokerage house in Panama, to ensure "the best defense of the interests of investors."
(UPDATE: On August 8th, 2011, the Panamanian Securities Commission resolved that the "reorganization process for Thales Securities was successfully completed and returned the administration and control of the company back to its shareholders and directors”.)
The country's National Securities Commission warns that there are more than 100 unregulated companies registered in the stock market.
The list of unregulated companies is published on the website of Panama's National Securities Commission (CNV), which advises that negotiations with these companies are carried out at the risk of the clients.
"Any companies selling securities should be registered with us, if not they are committing a crime.
A new regulation, numbered 2-2010, changes the securities issue registry, making the securities registration process faster.
2-2010 makes it faster to register recurring issuers from recognized jurisdictions. Conaval, the national securities commission, must still thoroughly review the informative prospectus to ensure investors can understand the risks of each security.
The challenges that the National Securities Commission must confront to comply with its mission of regulation and control of the Panamanian securities market.
Tagnia Shocrón, of Laestrella.com.pa, interviewed Julio Javier Justiniani, a former banker, who was recently appointed vice-president commissioner of the National Securities Commission.
Regarding the question, "Is the regulation that Panama relies on sufficient?," Julio Javier Justiniani answers: