PRIVACY POLICY
Users of this site can find out about our products and services, read our financial information or learn more about Stanford Bank (Panama), S.A. without disclosing any personal information. This site also contains a number of value-added features, which may require the user to give us personal information, such as name, address, e-mail address, telephone or fax number.
 
If the user provides the aforementioned personal information, as well as any demographic information he or she may be prompted to provide, Stanford Bank (Panama), S.A. will not disclose said information to any external party unless required to do so by law. Stanford Bank (Panama), S.A. will maintain this information, as well as the user's activities and transactions, according to our usual strict security and confidentiality standards.

LEGAL POLICY
Stanford Bank (Panama), S.A. ("SBP") is a Panamanian commercial bank operating under the laws and the supervision of regulatory authorities in the Republic of Panama. Deposits in SBP are not protected by the US Federal Deposit Insurance Corporation deposit insurance protection. This document is for information purposes only. No part of this document may be reproduced in any manner without the written permission of SBP.
 
The distribution of the material contained in this site may be restricted by law in certain jurisdictions. Persons gaining access to this site are required to inform themselves about and observe any such restrictions.
 
This site and the information contained herein should not be regarded as an offer or solicitation to sell investments in any jurisdiction in which such offer or solicitation is not lawful or in which the person making such an offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such an offer or solicitation.
 
SBP is a Panamanian international bank whose deposits are not covered by deposit insurance protection provided by the US Federal Deposit Insurance Corporation. This document is for information purposes only. No part of this document may be reproduced in any manner without the written permission of SBP.
 
The information contained herein is based on sources believed to be reliable; however, there is no representation or guarantee that it is accurate, complete or current, or that it reflects the current opinion or all information known to SBP or its affiliates. SBP does not undertake to advise of changes in its opinion or information. SBP may, to the extent permitted by law, act upon or use the information or opinions presented herein, or the research or analysis on which they are based, before the material is published. SBP or its affiliates may have issued other reports that are inconsistent with, and reach different conclusions from, the information presented in this document. Those reports reflect the different assumptions, views and analytical methods of the analysts who prepared them.
 
This is not an offer or solicitation of any order to buy or sell, or to subscribe for securities or other financial instruments, and is not a recommendation to undertake transactions in the subjects of this report. SBP, its affiliated companies, shareholders, directors, officers, and/or employees, may from time to time have long or short positions in such securities or in options, futures or other derivative instruments based thereon. One or more directors, officers, and/or employees of SBP or its affiliated companies may be a director of the issuer of the securities mentioned in this document. SBP and/or its affiliated companies may have managed or co-managed a public offering of or acted as initial purchaser or placement agent for a private placement of any of the securities of any issuer mentioned in this document within the last years, or may, from time to time, perform investment banking or other services for, or solicit investment banking or other business from any company mentioned in this document. The products mentioned in this document may not be eligible for sale in some states or countries, nor be suitable for all types of investors; their value and the income they produce may fluctuate and/or be adversely affected by exchange rates, interest rates or other factors. All currencies are in US dollars unless otherwise stated. This document is not to be relied upon in substitution for the exercise of independent judgment.
 
The views expressed herein represent the individual authors' personal opinions and are not and should not be construed as the opinions of SBP, its agents, officers, directors or shareholders of any one of its affiliated companies. The authors have relied on sources, which are generally reliable; however, no representations or assurances can be made as to their validity. An opinion stated herein does not necessarily reflect the opinions and investment strategy of SBP. There is no guarantee that any positions, investments or strategies set forth herein will remain the same after the date of this publication. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. Securities products and services are offered through Stanford Group Company, member NASD and SIPC. The Stanford Financial Group is not a legal entity. It is an international network of affiliated companies located throughout the United States, Latin America, the Caribbean and Europe.