The Superintendency of Banks of Panama remains committed to share valuable information and experiences of the banking and fiduciary sector, with the help of renowned speakers, by holding the 19th Banking and Fiduciary Update Seminar entitled “The Challenges of an Inclusive Regulatory Framework in Judicial Management.”
Superintendent Amauri A. Castillo addressed the attendees and said that “this type of update seminars play a vital role in strengthening our system […] as it becomes more relevant when it comes to updating and reinforcing the knowledge of those who administer justice and provide legal advice within our institutions.”
At the same time, he remarked the regulatory body’s commitment to promote a more robust, reliable, and transparent banking and fiduciary system by adopting international regulations and standards, to achieve an increasingly solid and competitive, efficient, secure and modern system, within an environment of greater legal certainty, that offers diverse and high-quality banking and fiduciary products and services.
The event that has been held for nineteen years in a row, fulfills the objective of keeping up-to-date and reinforcing knowledge of those who administer justice and provide legal advice through the different public institutions, among which the following stand out: Judicial Branch, Public Prosecutor’s Office, Attorney General for Administration, Superintendency for the Supervision and Regulation of Nonreporting Financial Entities, Superintendency of the Securities Market, Superintendency of Insurance and Reinsurance, Financial Analysis Unit, Public Registry, General Directorate of Financial companies of the Ministry of Commerce and Industry, Ministry of Economy and Finance, National Assembly, Banco Nacional de Panamá, Caja de Ahorros, Banco de Desarrollo Agropecuario and other public institutions.
The agenda included highly important topics, such as: IBC Performance; Financial Relief, Modifications, and Restructurings; Implications for Panama, if it remains grey- or black-listed; non-seizure of the trust estate against legal proceedings; banking phishing: financial sector’s effects and accountability; bankruptcy reconciled reorganization processes; as well as compliance with cybersecurity measures related to the data privacy law.
