Regulatory Alerts2023-12-27
Agreement 11-2023 of December 27, 2023 Modifying Certain Provisions of Agreement No. 5-2004 and Establishing Other Provisions
The Board of Directors of the Securities Market Superintendence of Panama issued Agreement 11-2023 to amend the registration requirements for investment societies under Agreement No. 5-2004. The regulation mandates the disclosure of effective owners and final beneficiaries in registration applications and establishes valuation rules for foreign investment societies maintaining accounts outside Panama. Additionally, it updates compliance officer incompatibility declarations and aligns registration document requirements for venture capital and real estate investment societies.
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