SMV
Grade D
Superintendency of the Securities Market of the Republic of Panamá · Panama · Official register
License facts
What it takes to hold this license, from the TrustFinance regulator database.
Authorized capital
150,000+
required to operate
Time to obtain
12-24 Months
typical licensing process
TrustFinance grade
of A to D
Requirements to get licensed
Main requirements
- Articles of Incorporation: The legal entity must be registered under Panama law, and the Articles of Incorporation must have a corporate purpose suitable for broker-dealer activities.
- Financial Statements: Applicants must provide financial statements and records of all operations related to the business.
- Board of Directors Information: The Board of Directors or its equivalent should consist of at least three individuals with proven business and professional integrity, with one-third possessing knowledge and experience in relevant subjects.
- Business Plan: Submission of a comprehensive business plan that aligns with regulatory requirements is essential for the application process.
- Office Presence: The entity must have fully-fledged offices in Panama and employ at least two full-time employees for daily operations.
- Business Development Plan: A detailed plan outlining the corporation's business development strategies is necessary for regulatory approval.
- Additional Documentation: Depending on the specifics of the company, additional documents such as information on shareholders, material condition, and authorized capital may be required.
About this regulator
The Superintendency of the Securities Market of the Republic of Panama is the regulatory authority responsible for overseeing and regulating the securities market in Panama. Its main objectives include ensuring the transparency, efficiency, and stability of the securities market, protecting investors, and promoting fair market practices. This institution plays a pivotal role in supervising various market participants, including issuers of securities, brokerage firms, and investment advisors, to ensure compliance with the country's securities laws and regulations.
Companies holding this license
Companies on record, each linking to its verification page.