Regulatory Alerts2019-06-03
Circular 04-2019 Guidelines for the Implementation of the Risk-Based Approach
The Superintendence of the Securities Market of Panama issued Circular 04-2019 to provide specific guidelines for the implementation of the Risk-Based Supervision Approach. This directive mandates that obligated entities, including securities houses, investment advisors, and fund administrators, apply recommended principles to their compliance and operational frameworks. The circular facilitates access to these sector-specific guidelines via the Superintendence's website to ensure regulatory alignment with Law 23 of 2015.
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