Costa Rica, Panama To Coordinate Stock Markets

March 4, 2005

FINANCIAL authorities in CostaRica and Panama seek to adjust regulationsso that securities can be issuedsimultaneously in both markets, and toharmonize their regulations to protectinvestors.Leaders from Costa Rica’s NationalCouncil of Financial System Supervision(CONASSIF) and the Superintendence ofSecurities (SUGEVAL) met with representativesof Panama’s Stock Market andSecurities Commission in Panama Feb.22, La Nación reported.Luis Diego Vargas, president ofCONASSIF, said he has asked SUGEVALto create a proposal that would allowCosta Rican securities issuers to placetheir securities on the market in Panamawithout inscribing themselves separatelyin both countries, with the same rights forPanamanian issuers.Stock supervisor Eddy Rodríguez toldthe daily this change would reduce costs toissuers, while simultaneously improving theselection of actions and bonds.Rodríguez said SUGEVAL and thePanamanian commission have studied thepossibility in the past, but never reachedan agreement.

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