Regulatory Alerts1999-07-08
Law 11 of 2002 Amending Articles 17 and 18 of Decree-Law 1 of 1999 Regarding Registration and Supervision Fees
The Legislative Assembly of Panama enacted Law 11 of 2002 to amend Articles 17 and 18 of Decree-Law 1 of 1999, establishing updated registration and supervision fees for entities regulated by the National Securities Commission. The law specifies precise fee structures for various market participants, including stock exchanges, securities houses, investment advisors, and registered securities, while introducing transitional provisions for the 2002-2004 period. It further mandates that these fees must strictly correspond to the Commission's operational costs and grants the Executive Branch authority to adjust fees if budgetary surpluses persist for two consecutive periods.
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