Chambers – Fintech, 2024

Contractual terms between fund administrators and investment companies are determined by the model contract of the fund administrator. Trading platforms for securities and financial instruments must be regulated by the SMV and require a license. Commodities trading platforms are regulated by the National Commission of Commodities Exchange. There are currently no laws or regulations in Panama regarding cryptocurrency exchanges. The SMV has advised caution regarding cryptocurrencies due to their lack of supervision, inherent value, and potential for fraud. There are no regulatory listing standards in Panama. Order handling rules for securities trades on organised exchanges require clear and precise orders to be executed promptly.