We hereby inform the clients of Avanza Casa de Valores, S.A./Securities House, (hereinafter, “Avanza”) of the following:

Avanza is an entity regulated and supervised by the Superintendence of Securities Market of Panama, licensed to operate as a broker-dealer under Resolution No. CNV-7508 dated March 17, 2008.

Avanza in compliance with the provisions of Article 46 of the Sole Text of Agreement No. 2-2011 dated February 10, 2022 issued by the Superintendence of the Securities Market of the Republic of Panama, which imposes, among others, the obligation of securities firms to inform their clients about the risks inherent to the global accounts, hereby indicates the following:

We reiterate to all our clients that the custody of the securities is exercised by Avanza in accordance with the indirect holding regime set forth in the Securities Market Law and in the Brokerage Account Contract.  Consequently, we notify that Avanza is not the final custodian of the financial assets, since it maintains a contractual relationship with the final custodians, which entails its own risks that could have an impact on the stock brokerage accounts of Avanza’s clients.

For any additional questions regarding this matter, please contact your Account Executive or the following e-mail: contacto@avanzacv.com.