Regulatory Alerts2019-07-10
Agreement No. 007-2019 Modifying Article 1 of Agreement No. 005-2015 on Prevention of Misuse of Services by Other Obligated Subjects Under the Supervision of the Superintendence of Banks
The Superintendence of Banks of Panama issued Agreement No. 007-2019 to modify the scope of application of Agreement No. 005-2015 regarding the prevention of the misuse of services. This regulation excludes money transfer companies and exchange houses from its scope, as they are now governed by separate specific guidelines, while retaining other financial entities such as leasing firms, factoring companies, and specific national banks. The agreement entered into force upon its promulgation on July 2, 2019, to align regulatory frameworks for anti-money laundering and counter-terrorism financing.
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