COLOMBIA

On September 7, the Colombian Financial Superintendency (SFC in Spanish) put out for public consultation a draft regulation related to the Integral Information System of the Securities Market (SIMEV in Spanish). It will be open for comments until September 20 through the mail [email protected].

The initiative seeks for the SIMEV to provide greater value as a source of official information in the securities market and to optimize its access for decision making by the different participants. For this reason, the text proposes a series of instructions to require additional information from issuers and stock market agents, as well as to enable new technological tools for the submission of information.

Among other measures, the circular proposes to modify unsafe and unauthorized practices, establishing the National Registry of Securities and Issuers (RNVE in Spanish) as a body for the communication of corrective measures and remediation. In addition, a web structure “Transmission of professional information of the securities market” would be implemented.