Circular 04-2018: Periodicity of Plan Único de Cuentas (PUC) Reporting via SERI for Investment Advisors

[Logo SMV]

Panama, February 8, 2018
Circular SMV-0004-2018

To:
Chief Executives of Investment Advisors and
Compliance Officers.

Subject: Reporting Periodicity – Electronic Information Submission System (SERI) – Agreement 8-2017 of December 13, 2017.

Dear Chief Executives of entities with Investment Advisor Licenses.

We deem it appropriate to inform you that, in a Board of Directors meeting held on February 7, 2018, the Superintendencia del Mercado de Valores (SMV) reached the decision that the submission of the Plan Único de Cuentas (PUC Accounting) for entities with Investment Advisor Licenses shall be carried out on a quarterly basis, within twenty (20) calendar days following the end of the period to be reported.

Accordingly, and by virtue of the decision taken, instructions are issued to Investment Advisors to proceed with the submission of the Plan Único de Cuentas (PUC Accounting), whose deadline was until February 15, 2018, to be completed by April 20, 2018. This report corresponds to the first quarter of the year 2018.

The Superintendencia del Mercado de Valores will proceed with the modification of what is stipulated in Article 4 of Agreement 8-2017 of December 13, 2017.

Legal Basis: Decree Law 1 of July 8, 1999, Agreement 8-2017 of December 13, 2017.

[Signature]
Marelissa Quintero de Stanziola
Superintendent of the Securities Market

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50th Street, P.H. Global Plaza Building, 8th Floor. Tel.: (507) 501-1700 Fax: (507) 501-1709 www.supervalores.gob.pa P.O. Box 0832-2281 WTC Panama, Republic of Panama.