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What is the legal framework in Panama that regulates regulatory compliance in financial institutions and how do you ensure that they comply with established rules and regulations?
In Panama, the legal framework that regulates regulatory compliance in financial institutions includes laws such as Law 23 of 2015 on the Prevention of Money Laundering, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction. Additionally, the Superintendency of Banks of Panama supervises and regulates the regulatory compliance of these institutions, ensuring that they comply with the standards established to prevent illicit activities and protect the integrity of the financial system.
How can companies in Mexico evaluate and manage supplier and third party compliance risk?
Assessing and managing risk of suppliers and third parties involves due diligence, signing compliance agreements, and regular audits to ensure they meet company standards.
What measures are applied to prevent the financing of terrorism in the real estate sector in Panama?
Due diligence, customer identification and reporting of suspicious transactions are applied in the real estate sector to prevent the financing of terrorism.
How are PEP's financial accounts and assets handled in the event of changes in its political status in Panama?
In the event of changes in the political status of a PEP, financial institutions should update information and adjust due diligence measures accordingly. This ensures that regulations remain applicable.
How does taxation on royalties and copyrights affect Peruvian companies in the entertainment and media sector, and what are some strategies to efficiently structure licensing agreements?
Taxation on royalties and copyrights in Peru can affect companies in the entertainment and media sector. Strategies such as correctly classifying income, negotiating favorable tax terms in licensing agreements, and evaluating tax benefits associated with content production can help companies efficiently structure licensing agreements and minimize tax burden.
Can a judicial record in the Dominican Republic affect my ability to obtain professional licenses?
Yes, in some cases, your judicial record in the Dominican Republic may affect your ability to obtain professional licenses. Depending on the type of license and the relevant regulatory body, judicial records may be considered in the evaluation of suitability and good moral character to practice certain regulated professions.
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