Regulatory Alerts2023-02-01
Circular No. SMV-01-23: Publication of the List of Securities Firms Providing Custody Services for Bearer Shares
The Superintendence of the Securities Market of Panama issued Circular No. SMV-01-23 to announce the publication of a monthly updated list of local securities firms authorized to provide custody services for bearer shares. The circular clarifies that this specific service differs from regular custody and requires entities to include it in their business plans for regulatory approval under Article 15 of Agreement 02-2011. As of the date of issuance, no regulated securities firms have expressed intent to offer this service, and the Superintendence maintains no registry of foreign custodians due to lack of jurisdiction.
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