Regulatory Alerts2023-05-22
Agreement No. 3-2024 of May 22, 2024 Modifying Article 2 of Agreement No. 8-2005 and Article 43 of Agreement No. 11-2005
The Board of Directors of the Securities Market Superintendence of Panama issued Agreement No. 3-2024 to amend regulatory frameworks regarding financial reporting and administrative sanctions. The agreement expands the scope of Agreement No. 8-2005 to include Pension and Retirement Fund Investment Managers, Price-Providing Entities, and Risk Rating Entities in the list of entities subject to daily fines for late submission of financial statements. Additionally, it updates Article 43 of Agreement No. 11-2005 to explicitly require these managers to submit interim and audited financial statements along with specific forms and reports as mandated by current regulations.
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