Regulatory Alerts2022-06-22
Agreement No. 5-2022 of June 22, 2022 Modifying Paragraph 4 of Article 4 of Agreement No. 3-2021
The Board of Directors of the Securities Market Superintendence of Panama issued Agreement No. 5-2022 to extend the deadline for issuers to request approval for the abbreviated procedure to replace the LIBOR reference rate. This modification shifts the submission deadline for the public communication of material facts from June 30, 2022, to December 31, 2022. Submissions received on or after January 1, 2023, will be automatically rejected, requiring issuers to follow the standard procedure established by Agreement 4-2003.
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