Panama Adopts Banking Regulations Requiring Immobilization of Bearer Shares

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Friday, January 9, 2015
Author: 
Miguel González Marcos, Bruce Zagaris and Luis Shirley
Volume: 
31
Issue: 
1
Abstract: 
On December 2, 2014, the Board of Directors of the Superintendency of Banks issued a resolution requiring banks operating in Panama (hereinafter “banks”) opening new accounts for corporations issuing bearer shares, to identify their true owner or ultimate beneficiary.  This Resolution became effective immediately.