US Ambassador Barbara Stephenson Criticizes Panamanian Bearer Share Companies
(Panama-Guide) By RAFAEL E. BERROCAL R. for La Prensa - The ambassador of the United States in Panama, Barbara Stephenson, said the intention of the United States is not to conspire against Panama as a financial center, but said "bearer share" corporations guarantee the anonymity of the actual owners of any particular company.
“The damage to (Panama's) reputation due to a lack of transparency is greater than the speculative damage (caused by) maintaining a public practice," said Stephenson in trying to justify why the US Congress is pressuring Panama to apply control regimes on joint-stock companies and to sign an agreement on the exchange of information.
She said the United States had to confront this problem as well by prohibiting the issuance of bearer share.
