The Financial Superintendence of Colombia (SFC) issued a public alert stating that the foreign firm SmartSTP and its investment platform are not authorised to offer financial products or services in Colombia and are not subject to SFC supervision. Based on information known to the SFC, the platform presents itself as an international broker and markets investment services in high-risk instruments including foreign exchange, contracts for difference, shares, precious metals, stock indices, cryptoassets and commodities, while claiming regulation by the Financial Services Commission of Mauritius. The SFC reported receiving more than 20 communications from people who say they provided funds to SmartSTP and have had difficulties withdrawing their money, including cases of total loss, and cautioned that anyone choosing to invest through the platform bears the associated risks and may have no Colombian supervisory authority to turn to. The SFC also reminded the public that any foreign firm seeking to promote activities in Colombia involving the administration of public money must have SFC authorisation and urged consumers to conduct due diligence and verify whether a firm is supervised and authorised.
Superintendencia Financiera de Colombia 2025-10-03
Financial Superintendence of Colombia warns foreign broker SmartSTP is not authorised to offer services to Colombian residents
The Financial Superintendence of Colombia (SFC) warned that SmartSTP and its platform are unauthorized to offer financial products in Colombia and are not under SFC supervision. The platform claims regulation by the Financial Services Commission of Mauritius and markets high-risk instruments, but the SFC received over 20 complaints about withdrawal issues and potential total loss of funds. The SFC advises consumers to verify firm authorization and conduct due diligence.