Panamanian stock exchange BVP has lifted its suspension on three classes of common shares registered by Balboa Funds 1513 Inc., according to a Dec. 7 security filing.
The authorized amount for each class is 100 million common shares.
The lifting of the suspension came after the conclusion of the reorganization, effective Nov. 17, of Balboa Securities Corp., which serves as the investment manager of the funds.
Panama's banking regulator SBP took administrative and operational control of Balboa Bank & Trust Corp., a sister unit of Balboa Securities, in May 2016 after the company was sanctioned by U.S. authorities for alleged ties to a Panama-based money laundering network. Balboa Bank and Balboa Securities were removed from the U.S. Treasury Department's special designations list for narcotics earlier in October.
