Regulatory Alerts2018-10-31
Circular 08-2018: Lists Issued by the CNBCTF
The Superintendency of the Securities Market of Panama issued Circular 08-2018 to mandate compliance with Resolutions 01-018 and 02-018 issued by the National Commission against Money Laundering, Terrorism Financing, and Proliferation Financing. These resolutions require supervised financial entities to apply enhanced due diligence measures to high-risk persons and transactions, specifically incorporating lists from the UN Security Council, the United States, Canada, and the United Kingdom, as well as a specific list of Venezuelan politically exposed persons. Financial and non-financial obligated subjects must adopt these measures to mitigate national risks associated with money laundering and terrorism financing.
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