The market regulator of Panama has indefinitely suspended the license of the brokerage firm Clever Financial Investment Services, linked to Banco Universal. A resolution by the Superintendence of Securities said that after performing an inspection at the brokerage firm it was found that the brokerage firm maintains only three bank accounts, all of them with Banco Universal, namely own / administrative account, third parties/customers account and a deposit account.

As a result of the takeover of Banco Universal on June 5 the funds held in accounts maintained by Clever Financial Investment Services will not be available for use by the brokerage firm.

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