Circular 19-2026: Submission of the Structure Report via the Pensions Profile

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Panama, July 28, 2026
Circular No. SMV-19-2026

To
Compliance Officers
Pension and Retirement Fund Investment Administrators. Panama City

REFERENCE: Submission of the Structure Report via the Pensions Profile

Dear Sirs:

The Superintendence of the Securities Market, exercising the powers conferred by the Single Text of Decree-Law No. 1 of July 8, 1999, and Law No. 10 of April 16, 1993, notifies Pension and Retirement Fund Administrators that an update has been made to the Structure Report, with the purpose of expanding the information currently submitted to this Superintendence and providing a higher level of detail for the development of supervisory activities.

This update incorporates new information fields and adjustments to the report structure, aimed at improving the quality, consistency, and scope of the information supplied by the AFPs, allowing for a more complete evaluation of their organizational and operational structure.

Consequently, starting with the submission corresponding to the July 2026 period, AFPs must use the updated version of the Structure Report, which will continue to be submitted through the Pensions profile enabled in the SERI System.

The updated template of the Structure Report will be available on the institution's website, at the following path: SERI > SERI Forms > Pension and Unemployment Funds > Forms (CSV Templates) > Pension Structure Reports.

For any inquiries related to this Circular or the implementation of the report update, you may contact officials Henry Sáez, at hsaez@supervalores.gob.pa, or Eric González, at egonzalez@supervalores.gob.pa.

Sincerely,

[Signature]
Maruquel Murgas de González
Superintendent of the Securities Market

/eg

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