Latest updates

National Securities Commission Reverses Position on CFDs as 'Security'
  • Panama
  • 04 March 2009

The National Securities Commission recently issued Opinion 13-2008, offering its administrative position on whether contracts for difference (CFDs) may be the object of a public offering in Panama. The commission has decided to re-evaluate its prior position to make it consistent with criteria that maintain that CFDs are not a 'security' under the definition in the Securities Law.

National Securities Commission Issues Opinion on Foreign Exchange Markets
  • Panama
  • 30 July 2008

By means of Opinion 5-2008 of June 20 2008, the National Securities Commission has issued its administrative position on intermediation activities undertaken by Panamanian companies in the international foreign exchange markets. The commission has reiterated its prior position that foreign exchange investments are not considered to be ‘securities’ for the purposes of Panamanian law.

Regulation of Contracts for Difference
  • Panama
  • 10 October 2007

The National Securities Commission recently issued an opinion offering its administrative position on the issue of whether foreign economic agents that operate in Panama or abroad and exclusively engage in investing in contracts for difference in the market are subject to regulation.

Commission Issues Administrative Opinion on Forex Activities
  • Panama
  • 11 July 2007

The National Securities Commission has issued its administrative position on the activities of a company engaged exclusively in the purchase and sale of currency in the international markets, with or without financing schemes, and clarified whether such a company requires a licence under the Securities Law and its regulations.

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