At a meeting with financial consumer ombudsmen, the Financial Superintendence of Colombia said it is preparing a third round of comments on its draft circular for a new Conduct Risk Management System. The draft framework is intended as a preventive tool to strengthen how firms identify and manage risks that could affect the fair treatment of financial consumers. The update was presented alongside broader remarks on the consumer protection agenda. The superintendent highlighted the ombudsmen's role as an independent mechanism that supports customer trust and relationships with supervised entities. SFC officials also pointed to challenges arising from Decree 0368 of 2026 on open finance, particularly in relation to fair treatment and personal data, as well as demographic changes affecting the delivery of financial products and services. The delegate for jurisdictional functions added that ombudsmen should deepen their advocacy and conciliation functions within an independent and autonomous framework.
Superintendencia Financiera de Colombia2026-06-03
Financial Superintendence of Colombia prepares third comment round on conduct risk management system for fair treatment of consumers
The Financial Superintendence of Colombia told financial consumer ombudsmen it is preparing a third round of comments on its draft circular for a new Conduct Risk Management System, designed to strengthen how firms identify and manage risks to the fair treatment of financial consumers. Officials also underscored the ombudsmen’s independent role in consumer protection and flagged challenges linked to Decree 0368 of 2026 on open finance, data, and demographic shifts in financial service delivery.