The Financial Superintendence of Colombia (SFC) issued new instructions easing the requirements for companies to issue and place securities in the Colombian capital market, creating two differentiated statuses that are intended to streamline approvals and repeat offerings. External Circular 011 of 2025 allows market participants to be recognised either as a “known issuer” or a “recurrent issuer”. For new issuers applying to become a known issuer, the SFC set a maximum response time of 30 business days for the registration and public offering of securities and for the recognition of the status, and subsequent issuances can be processed within up to 15 business days after complete documentation is submitted. Issuers that qualify as recurrent issuers can execute new issuances within up to five business days after filing complete documentation. The framework is positioned as supporting faster issuance of instruments including shares, bonds and securitisation-related securities, and the SFC also presented two visual seals that recognised issuers may use to identify their status, subject to meeting the SFC’s requirements.
Superintendencia Financiera de Colombia 2025-11-27
Financial Superintendence of Colombia introduces known and recurrent issuer statuses to speed up securities offerings
The Financial Superintendence of Colombia (SFC) introduced External Circular 011 of 2025, easing securities issuance requirements by creating "known issuer" and "recurrent issuer" statuses. Known issuers have a 30-business-day response time for initial registration, while recurrent issuers can execute new issuances within five business days. The framework aims to expedite issuing shares, bonds, and securitisation-related securities, with visual seals for recognized issuers.