Spanish version

FINANCE

Chamber calls for reforms

It says regulatory agencies need to be strengthened.

Spanish version

Temas:

Chamber of Commerce President Jorge García Icaza said yesterday that there is a need to strengthen the institutions responsible for the supervision and regulation of financial and non-financial activities to avoid the scandals that have rocked the countries over the last six weeks.

"The regulatory system, the justice system, the Public Prosecutor's Office, the Superintendency of Banking and the securities market must continue to be strengthened. This is a conversation that should take place in the coming days, about what we have to do to strengthen the system," he said.

Among the current deficiencies is the lack of publicity about sanctions imposed on banks, he said.

The Superintendency of Banks have launched 19 investigations in the last 2 years which resulted in at least six sanctions. The Banking Act gives the superintendent the power to reveal these sanctions, but does not require it.

Banking regulator Ricardo Fernández has said several times that the sanctions will be made public, something that has not happened yet.

According to Garcia Icaza, "there are banks that have been fined, but we do not know what they did."

He also called for more independence for entities such as the Financial Analysis Unit.

Panama has come under scrutiny due to allegations made against the law firm Mossack Fonseca and the Waked family. That family has been accused of laundering money for drug traffickers, while the law firm has been accused of helping people avoid taxes in other countries, among other irregularities.

Comentarios

Los comentarios son responsabilidad de cada autor que expresa libremente su opinión y no de Editorial por la Democracia, S.A.

Por si te lo perdiste

Última hora

Pon este widget en tu web

Configura tu widget

Copia el código

Directorio de Comercios

Lo último en La Prensa

DENUNCIA La Iglesia ortodoxa rumana implicada en dos escándalos sexuales

Otro sacerdote del noroeste de Rumania fue expulsado definitivamente de la Iglesia ortodoxa a finales de julio. Otro sacerdote del noroeste de Rumania fue expulsado definitivamente de la Iglesia ortodoxa a finales de julio.
Otro sacerdote del noroeste de Rumania fue expulsado definitivamente de la Iglesia ortodoxa a finales de julio. AFP

La Iglesia ortodoxa rumana estuvo implicada en las últimas semanas en dos escándalos sexuales, de los cuales el más reciente ...

TERRORISMO Manifestación el próximo sábado en Barcelona contra los atentados

La manifestación es para rechazar el terrorismo. La manifestación es para rechazar el terrorismo.
La manifestación es para rechazar el terrorismo. AFP

El ayuntamiento de Barcelona y el gobierno regional de Cataluña anunciaron, este sábado, la convocatoria para el 26 de agosto ...

polémica Perú: Siete meses de prisión preventiva a un sacerdote español por abuso sexual

Santiago Martínez Valentín-Gamazo. Santiago Martínez Valentín-Gamazo.
Santiago Martínez Valentín-Gamazo. Tomado de La República

Un tribunal peruano de justicia dictó siete meses de prisión preventiva al sacerdote español Santiago Martínez ...