URF Launches 2020 Regulatory Agenda for Public Consultation
Colombia
15 noviembre 2019

The Financial Regulation Unit (URF, for its acronym in Spanish), which reports to the Ministry of Finance, has published a document for public consultation to define the institution’s regulatory guidelines for 2020. The proposal is available for public comment until November 25, 2019. To send comments, the URF has enabled the emails [email protected] and [email protected].

The URF will focus on the following regulatory issues:

  • Corporate Governance Standards and Good Practices. The URF will work together with the OECD on a survey to assess the country’s regulatory gap compared with international standards. This study will provide key input for future regulatory developments.
  • Large exposures. The URF will work on a draft decree to implement the new international standards regarding the application of special limits and conditions for systemic banks.
  • Segmentation of Private Equity Funds. The Unit will work on a study to review and modify, if necessary, the current regulatory framework of the private equity industry to allow the promotion of venture capital funds.
  • Standards for asset management and administration. The URF will study the feasibility of harmonizing the regulatory framework for all those agents authorized to administer and manage assets in the capital market and to encourage them to become as professional as possible with efficiency and competence.
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