The Superintendencia Financiera de Colombia (SFC) held a virtual public accountability hearing setting out achievements for 1 August 2024 to 31 July 2025 and priorities focused on modernising financial supervision and supporting growth in the financial and capital markets. The update centred on five strategic programmes spanning digital supervision, open finance, risk management, regulatory optimisation and institutional modernisation. Over the period, the SFC advanced its Digital Supervision work and strengthened monitoring standards for emerging climate, social and governance risks alongside traditional credit, solvency and liquidity risks. Regulatory clean-up included updates to the Basic Legal Circular and the Basic Accounting and Financial Circular to ease operations for supervised entities. Supervisory engagement was expanded through nearly 40 bilateral supervisory colleges with supervised entities and financial conglomerates, and the SFC processed 523 authorisation requests, including share trading (31), new entity incorporation (4), opening or closing of representative offices (22), operating certificates (10), conversions and transformations (1) and mergers (4). In capital markets oversight, administered assets were reported at around COP 1,000 trillion, mainly across collective investment funds (COP 440 trillion), fiduciary administration (COP 606 trillion) and securities custody (COP 367 trillion), alongside 18 authorised public offerings and 39 automatic offerings and the entry of five new issuers. Consumer protection work included orders and follow-up that led to refunds of commissions, reimbursement of default interest and other monetary compensation linked to channel unavailability events, and supervision against illegal financial activity included 25 exercises and the identification of fraudulent schemes affecting at least 434 people for COP 11,669 million. The SFC noted that further work remains to consolidate the strategic programmes, particularly on supervision digitalisation and mandatory open finance. It also pointed to ongoing public-private work to update capital market rules, simplify documentation, build indicators and develop a bilingual website to guide investor and issuer participation.
Superintendencia Financiera de Colombia 2025-12-18
Superintendencia Financiera de Colombia outlines progress on digital supervision, mandatory open finance and regulatory streamlining
The Superintendencia Financiera de Colombia (SFC) highlighted achievements and priorities for modernising financial supervision, focusing on digital supervision, open finance, and risk management. Key developments included regulatory framework updates, expanded supervisory engagement, and significant capital market oversight with assets around COP 1,000 trillion. The SFC emphasized efforts to enhance supervision digitalisation and open finance, alongside public-private initiatives to update capital market rules and improve investor guidance.