Panama Broker Dealer House License_Guideline
Panama Broker Dealer House License
Broker-dealer and investment advisor activities are mainly regulated in Panama by Law Decree No.1 of 1999, as amended (the “Securities Law”). The license is issued by the National Securities Commission.
Broker-Dealer Houses are entities authorized to engage in activities to receive, process and execute orders and trades on behalf of others or on its own behalf.
The following are the permitted activities:
- Provide advisement to clients concerning investment opportunities
- Management of custodial accounts
- Management of individual investment portfolios
- Act as agent of payment, transfer and registration
- Grant loans for the purchase of securities
- Mediation in public offerings on behalf of the issuer
The following types of investment companies can register with the National Securities Commission and apply for the license:
|Director’s Requirements||The licensee will need at least 3 (three) natural person Fit and Proper Directors.|
|Shareholder requirements||A minimum of one shareholder is required.|
|External Auditor||A Broker Dealer House shall appoint an independent external auditor who shall audit the Investment Company at least once a year and prepare the audited financial statements for the company in accordance with Accounting Regulations approved by the National Securities Commission and its Agreements.|
|Minimum Capital Requirements||In order to obtain a Broker Dealer license in Panama you need to have a registered capital of USD150,000.|
- A broker dealer house must provide the information requested by the National Securities Commission.
- A Broker Dealer House shall reflect the sales information in the Global Monthly Transaction Report referred to in Article 17 of Agreement No. 2-2004 dated April 30, 2004, through Form DMI-5.6.
- Inform in writing to the Commission, any changes in the appointment of the certified public accountant that verifies their interim financial statements or of the certified public accountant or accounting firm that act as external auditor of the person registered or subject to report, within the fifteen (15) days following the date on which the change of accountant or external auditor was decided
About Valsen Fiduciaries
Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.
- Company formations and Administration
- Assistance with Bank Account opening
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The Valsen Advantage
- We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
- Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
- We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
- We have a full in-house compliance support for all compliance requirements with the regulator and service providers
- Tel: +248 4321018
- WhatsApp: +248 2525217
- Skype: vf-international.com
- Email: email@example.com