Regulatory Alerts2020-04-30
Circular 03-2020 Extension of Deadline for Submission of Risk Management Self-Assessment Questionnaire for Securities Houses, Investment Administrators, and Pension and Severance Fund Administrators
The Superintendence of the Securities Market of Panama extends the deadline for the submission of the Risk Management Self-Assessment Questionnaire by thirty calendar days, setting the new due date to June 4, 2020, in response to the national state of emergency declared due to the COVID-19 pandemic. This extension applies to securities houses, investment administrators, and pension and severance fund administrators, who are also instructed to adhere to specific file naming conventions for their supporting documentation. Entities are encouraged to submit their responses early if completed before the new deadline, with further inquiries directed to the specified email address.
[Logo: SMV Superintendencia del Mercado de Valores República de Panamá]
Panama, April 30, 2020 Circular No. SMV-3-2020
To: Chief Executives and Compliance Officers City.
Reference: SUBMISSION OF RISK MANAGEMENT SELF-ASSESSMENT QUESTIONNAIRE FOR SECURITIES HOUSES, INVESTMENT ADMINISTRATORS, AND PENSION AND SEVERANCE FUND ADMINISTRATORS.
Respected Sirs:
In view of the current situation of the State of Emergency, decreed by the National Government of the Republic of Panama, which remains in effect due to sanitary measures taken in response to the declaration of a Pandemic of the coronavirus disease (Covid-19), this circular grants a new deadline of thirty (30) calendar days to respond to the "risk management self-assessment questionnaire" for the implementation of the Risk-Based Supervision tool. Consequently, the submission deadline is extended until June 4, 2020.
We appreciate it if those entities that complete the questionnaire before the submission date forward it to this Superintendence.
Additionally, your collaboration is requested to ensure that supporting documentation (manuals, regulations, methodologies, and others) is submitted in the following format:
- Securities Houses must use the code CV, adding the name of the respective entity and the file (e.g., CV-Securities, S.A. + file name + #control number of the question appearing in the self-assessment questionnaire).
- Investment Administrators must use the code ADMI, adding the name of the respective entity and the file (e.g., ADMI-Administrator, S.A. + file name + #control number of the question appearing in the self-assessment questionnaire).
- Pension and Severance Fund Administrators must use the code AFP, adding the name of the respective entity and the file (e.g., AFP-Pension Funds, S.A. + file name + #control number of the question appearing in the self-assessment questionnaire).
For any additional inquiries, we are at your disposal via the following email address: autoevaluacionsbr@supervalores.gob.pa.
Sincerely,
[Signature]
Julio Javier Justiniani C. Superintendent
/am