In 2018, the volume traded in the Panamanian Stock Exchange totaled $6.100 million, 15% more than the data reported in 2017, mainly because of the behavior of the primary market.
The increase in the volume traded in 2018 represents a recovery in the stock market, since in 2017 the stock market activity of the Panama Stock Exchange (BVP) reported a 28% decrease compared to 2016.
In Panama, the liquidation has been ordered of Blue Numbers Securities Inc., because it shows "lack of supervision and management, and a board of directors that is not very involved."
The Superintendency of Securities ordered the forced liquidation of the securities company Blue Numbers Securities Inc. and appointed Rafael Moscarella Valladares as liquidator.
In Panama, the portfolio managed by brokerage firms totaled $35,577 million at the end of the first half of the year, 11% more than was registered in the same period in 2017.
According to the Superintendency of the Securities Market, of the total portfolio, 43% correspond to bonds, another 27% of the assets belong to common shares, and 21% is made up of other securities.
In 2017, $2.494 billion was traded on the stock market, 34% more than the sum total of operations last year.
The Central Bank of Nicaragua reported that last year they observed in the stock market " ... the predominance of the national currency, representing almost 88% of total trades in different markets."
The volume traded on the stock market in 2017 amounted to $5.323 billion, 28% less than the amount traded during the previous year.
Despite the decrease registered, authorities and participants of the stock market see the performance in 2017 as positive, and attribute the decline to the fact that in 2016 there were extraordinary movements, caused by the participation of the government and some private sector companies.
Between January and November 2017, the volume traded on the stock exchange was $43,153 million, 4% less than the amount traded in the same period in 2016.
According to figures from the National Securities Exchange (BNV), as of November of this year 78,836 operations were recorded for a total of $43.153 billion, 4% lower than the $44.911 billion transacted in the same period in 2016.
In the first eight months of the year, the volume traded in the primary market grew by almost twice as much as in the same period in 2016, driven by growing product diversification and increased investor demand.
Growth in trading in both the primary and secondary market is due mainly to a greater diversification of financial instruments, attractive returns and a growing interest from investors and companies in the stock market both in finding investment options and in seeking financing.
For breaching the Securities Market Law an order has been given to indefinitely suspend the operations of the brokerage firm FDG Wealth Management.
From the resolution given by the Superintendency of Securities in Panama:
First: Order the indefinite suspension of the stock broker license which was granted by Resolution SMV No 34-2014 of 24 January 2014, until the stock broker firm FDG Wealth Management remedies breaches to the Stock Market Act that led to the suspension and to the Superintendency of securities adopting other measures.
Citing several irregularities during the intervention process, the Securities regulator decided to order the liquidation of the brokerage firm Panama Wall Street.
From this moment forward, investors and creditors of Panama Wall Street S.A. must present themselves at the company's premises to declare the amounts owed to them and start due process with the authorities who will lead the settlement process.
Analysis of the current state of the Panamanian capital market, including the confidence threatened by various financial setbacks, and the opportunities to make the much needed structural changes.
Martesfinanciero.com reviews three episodes which have shocked the Panamanian financial market in recent weeks: "These events have shaken the financial system and put market players on alert.
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.
After two years of allegations, suspensions and interventions, the Securities Market Regulator has ordered the liquidation of the brokerage firm.
From a statement issued by the Securities Regulator (VPS):
The Superintendencia del Mercado de Valores (SMV), wishes to communicate to investors and the general public its resolution SMV No.358-14 of August 11, 2014, on the Compulsory Settlement (Administrative) of Casa de Valores Financial Pacific Inc.. which is ordered, under the provisions of Article 302 of the Consolidated Text of the Law on Securities Market.
The prolonged intervention of the Supreme Court in the Financial Pacific puts into question the adequate functioning and reputation of the financial system.
The latest news is that the Chief Superintendent of the Panama Stock Exchange (SMV), Alejandro Abood, could recuse himself in the stock market scandal of the brokerage firm Financial Pacific (FP), suspended for embezzling 14 million dollars.