In 1999, Panama introduced new legislation to oversee the local securities market, which included the creation of the new National Securities Commission to oversee this market.
Panama’s securities legislation outlines the requirements to establish a brokerage house or to become a securities advisor, as well as requirements for self-regulated entities.
It bears mentioning that Panamanian law establishes the obligation to register all local public security offers with the understanding that all offers made to over 25 persons or purchased by over 10 persons during a twelve month calendar period are deemed to be public offers.
Panama’s securities legislation also outlines what information must be supplied when making a securities offer and sets-out clear regulations for public securities offers and mutual funds.
VV&GM is in position to provide advice in regards Panamanian securities market matters.