Panama - Transparency of the Regulatory SystemPanama - Transparency
In the banking and finance sector, investors generally give good marks to the Panamanian entities that regulate them, notably the Superintendent of Banks. However, U.S. businesses have expressed concern about the responsiveness and transparency of some regulating agencies and the authorities’ failure to consult with businesses before enacting policies or implementing new legislation.
In 2012, Panama passed a securities law to regulate brokers, fund managers, and matters related to the securities industry. The Commission structure was modified to follow the successful Banking Law model and now consists of a superintendent and a board of directors. The Securities Commission is generally considered to be a competent and effective regulator. Panama has committed to seeking the legal authority necessary to allow them to become a fully signatory to the International Organization of Securities Commissions MOU.
Panama is a member of UNCTAD’s international network of transparent investment procedures (http://panama.eregulations.org). Foreign and national investors can find detailed information on administrative procedures applicable to investment and income generating operations including the number of steps, name and contact details of the entities and persons in charge of procedures, required documents and conditions, costs, processing time and legal bases justifying the procedures. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
In 2012, Panama passed a securities law to regulate brokers, fund managers, and matters related to the securities industry. The Commission structure was modified to follow the successful Banking Law model and now consists of a superintendent and a board of directors. The Securities Commission is generally considered to be a competent and effective regulator. Panama has committed to seeking the legal authority necessary to allow them to become a fully signatory to the International Organization of Securities Commissions MOU.
Panama is a member of UNCTAD’s international network of transparent investment procedures (http://panama.eregulations.org). Foreign and national investors can find detailed information on administrative procedures applicable to investment and income generating operations including the number of steps, name and contact details of the entities and persons in charge of procedures, required documents and conditions, costs, processing time and legal bases justifying the procedures. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.