Circular 07-2018: Submission of Interim and Audited Financial Statements in PDF Format via SERI for Securities Companies

[Logo: SMV Superintendence of the Securities Market Republic of Panama]

Panama, February 23, 2018
Circular SMV-07-2018

To:
Securities Companies

Subject: Submission of Interim and Audited Financial Statements in PDF Format, through the Electronic Information Submission System (SERI)

Dear Sirs:

Through this circular, it is instructed that Entities with Securities Company licenses must submit their Interim Financial Statements in PDF format through the SERI Platform within two (2) months following the close of the quarter; and their Audited Annual Financial Statements within three (3) months following the close of the fiscal year, complying with what is established in Article 12 of Agreement 8-2000 of May 22, 2000 (Periodicity of the presentation of Financial Statements) and Article 22-A of Agreement 3-2015 of June 10, 2015 (Disclosure in Financial Statements).

Notwithstanding, the Audited Financial Statements will continue to be delivered physically to the Superintendence of the Securities Market in compliance with what is established in Agreements 8-2000, 3-2015, and Circular SMV-016-2015 of September 1, 2015, the latter related to the delivery of one (1) Original, one (1) Copy, and one (1) receipt. Please note that regarding the CD copy, from now on, only one (1) copy will need to be presented.

Attached to this circular is an instruction manual that explains the procedure for submission by supervised entities. It can be reviewed at the following link:

http://www.supervalores.gob.pa/files/SERI/Guias/Guia_SERI2_2017.pdf

LEGAL BASIS: Single Text of Law Decree 1 of July 8, 1999, Agreement 8-2000 of May 22, 2000, and Agreement 3-2015 of June 10, 2015.

Sincerely,

[Signature]

Loraine Chavarria de Sinclair
Acting Superintendent
Superintendence of the Securities Market

[Seal: REPUBLIC OF PANAMA - SUPERINTENDENCE OF THE SECURITIES MARKET]

50th Street, P.H. Global Plaza Building, 8th Floor. Tel.: (507) 501-1700 Fax: (507) 501-1709 www.supervalores.gob.pa P.O. Box 0832-2281 WTC Panama, Rep. of Panama.