The Ministry of Finance issued a decree concerning stock market investments, while the Bank of the Republic (BanRep, in Spanish) set a deadline for the completion of procedures related to Open Market Operations (OMA). Further details on each subject are provided below:
The Ministry of Finance issued Decree 1054 regulating private equity or collective investment funds. This document establishes guidelines for deferred access to funds containing shares traded on the stock exchange. It modifies assets and taxation for non-Colombian individuals and foreign companies. The regulation is already in force.
The BanRep set August 4, 2020 as the deadline for the submission of quarterly requirements with a June 2020 cut-off date for OMA placement agents (ACOs). The procedures requested from credit establishments, brokerage firms, and investment management companies are detailed in Circular DEFI-354.
In addition, the entity established August 18, 2020 as the deadline for receiving consolidated solvency requirements with a June 2020 cut-off date for OMA placement agents (ACOs) operating as credit establishments. Agents must submit the “certification of the minimum consolidated solvency ratio for credit establishments” with the legal representative’s and the auditor’s digital signatures. Click here to see the requested documents.