Executive branch regulates digital security and payment of financial sector fees
10 julio 2020

On July 6, the Colombian Financial Superintendency (SFC for its acronym in Spanish) opened a public consultation on cybersecurity and issued a circular regulating the payment of fees by financial institutions. For its part, the National Planning Department (DNP for its acronym in Spanish) issued a document drawn up by the National Economic and Social Policy Council (CONPES, for its acronym in Spanish) on digital security. The most relevant points of these measures are presented below:
The SFC’s public consultation on a draft resolution provides instructions on the taxonomy and format for reporting cyber incidents, and the Traffic Light Protocol (TLP) for information exchange. Interested parties may submit comments until July 17, 2020, to [email protected]
The same entity issued a circular updating the amount for the payment of considerations by supervised entities. The regulations set the value of such contributions at USD 33,340,727 for the second half of 2020. The factor applied to each supervised entity shall be calculated taking into account the value of their assets recorded as of December 30, 2019. The regulations are already in force and establish that the deadline for payment is July 22, 2020.
The CONPES document creates a “National Policy on Trust and Digital Security”, which is a regulatory framework including measures to expand digital confidence with a view to improving digital security in Colombia. The idea is to strengthen digital security capabilities for citizens as well as the public and private sectors. The governance framework for digital security will also be updated and, finally, there will be an analysis of the models, standards and frameworks adopted for digital security, emphasizing new technologies.

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