Friday, January 28

Non-financial subjects request participation in the regulation of the Law on accounting records


The Panamanian Association of Compliance Companies-Apec- (in formation) expressed its interest to support and actively participate together with the Superintendency of Non-Financial Subjects (“SSNF”) in the work tables that seek to regulate the laws aimed at the effective implementation of measures for the prevention and prosecution of money laundering, in particular the Law 254 of November 11, 2021 Additional requirements are established regarding the accounting records that legal entities must keep.

What’s more, The companies that make up the Apec expressed their willingness to support and participate in training by regulated sector. “We, as compliance companies, have the authorization, cability and experience to cooperate with the SSNF in training, throughout the national territory, of the companies that are obligated subjects of said Superintendency ”, highlights a statement from the Apec.

Apec points out that the general public, erroneously, considers that these laws only affect lawyers and are not aware of the number of sectors that are regulated; These sectors range from the sale of new and used cars, settling in free zones, the sale of metals and stones
precious companies, developers, real estate brokers, certified public accountants and
suppliers to the construction industry, among others.

“Only through the coordinated effort of private companies with the national government will we be able to reach levels of training and effectiveness that international organizations demand for our country to get out of the lists that affect our image and reputation so much ”, emphasizes the Apec.



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