Regulatory Alerts2017-12-27
Agreement 8-2017 Adopting the Uniform Chart of Accounts for Investment Advisors and Investment Managers and Establishing Required Forms
The Superintendencia del Mercado de Valores of Panama issued Agreement 8-2017 to mandate the Uniform Chart of Accounts (PUC) for investment advisors, investment managers, and various fund administrators to ensure financial reporting uniformity. The regulation establishes strict submission deadlines, requiring monthly reports from managers and quarterly reports from advisors via the SERI electronic system, while also introducing mandatory F-1 Risk Matrix and F-2 Beneficial Owner forms. It further defines procedures for correcting submitted information, outlines sanctions for late or incomplete filings, and clarifies that these specific reports do not replace the requirement for interim and audited financial statements.
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