The Superintendency of Securities in Panama

The transition of the Comisión Nacional de Valores (National Securities Commission) to the new entity has been affected by administrative and legal difficulties which are causing confusion.

Friday, May 11, 2012

The process is suffering from legal and administrative complications in the absence of a regulation in the new law regulating the securities market, which has led to administrators not making decisions nor responding to consultations, among other problems.

"Neither the Superintendent, Alejandro Abood, nor the two commissioners, nor managers dare to make any decisions that might lend themselves to questioning", reported Prensa.com.

Another factor is that the Board of the superintendency has not yet been sworn in.

More on this topic

Changes in Market Regulation in Panama

October 2014

New legislation prevents operating as a stockbroker those entities who do not have a license issued by the Superintendency of Securities, among other changes.

In 2013, 11 agreements were approved, while so far this year five have been approved, which contemplate limits for exercising the office of broker or analyst.

IOSCO Suspends Panama

October 2014

The International Organization of Securities Commission has suspended the country's right to vote as a member because it has not yet signed the agreement to provide information on stock market investigations.  

The IOSCO's decision to suspend voting rights for the country as a member of the organization comes after the entity warned the authorities, repeatedly, about the need for regulation which would provide information to banks and financial institutions from other markets in cases of investigations.

Vitality of Stock Market in Panama

November 2012

In the past seven years the number of brokerage houses and investment managers operating in the country has doubled, going from 35 in 2005 to 78 November 2012.

The challenge for next year is for better regulation and market supervision by the regulator, the Superintendency of Securities (VPS).

Regulation of the Securities Market in Panama

February 2009

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.

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