Regulatory Alerts2017-02-01
Agreement 2-2017 Modifying Articles of Agreement 6-2015 on AML/CFT Prevention
The Superintendency of the Securities Market of Panama issued Agreement 2-2017 to amend the anti-money laundering and counter-terrorist financing regulations established in Agreement 6-2015. The agreement mandates enhanced due diligence measures, including stricter identity verification for natural and legal persons, and introduces new requirements for managing risks associated with new technologies and high-risk clients. It also redefines the composition and operational procedures of Ethics and Compliance Committees to ensure robust oversight of financial obligations.
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