Banks superintendent calls for Supreme Court action in brokerage scandal.

THE SUPERINTENDENT  of Panama’s Banks has asked the Supreme Court  and the authorities to resolve the formalities related to Pacific Financial Brokerage House in order to "maintain public confidence and to safeguard the interest our national banking and financial center. "

The request comes in the midst of  financial fraud scandal in Financial Pacific, which has alleged to president, Ricardo Martinelli says La Prensa.
The plans of the brokerage, now in the center of the storm, included the creation of a bank called FP Bank, which would occupy a building under construction in Obarrio.
On this issue, the Superintendent reported that no formal application for a banking license in favor of an alleged bank to be called FP Bank
"not filed – nor was processed He st no formal application for a banking license in favor of an alleged bank to be called FP Bank" was filed or being formally processed – no request to be attended either as promoters or as directors or officersany of the people who have been identified as related to Financial Pacific".
However, the Superintendent acknowledged that they responded in 2012 to a group of investors, "some of whom are related to executives of Securities House Financial Pacific, who expressed their intention of entering the banking business in our country
"As with many other such initiatives, the approach did not reach the expectations of the legal and regulatory requirements of the Superintendency of Banks and as a result, a formal request was never submitted," he stressed.