SFC opens public consultation on financial holding company investments
15 abril 2021

COLOMBIA

On April 9 the Financial Superintendency of Colombia (SFC, in Spanish) opened a public consultation of a draft norm that regulates the authorization regimes for investments of financial holding companies. Interested parties may send their comments in this format to [email protected] until April 21.

The initiative describes the general and individual authorization regimes for capital investments intended to be made by financial holding companies in local or foreign financial, insurance and stock market entities. For the general authorization, some of the requirements to be complied with are related to the total amount of the investment and the total participation of the financial holding company in the entity receiving the funds.

Holding companies must also not have been sanctioned by the SFC within the year prior to the date of the investment to be made. Furthermore, investments that do not meet the conditions to access the general regime will be subject to the individual authorization regime. 

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