Publications - Banking and Finance
The new Securitisation Law implements the general framework for securitisation and the specific framework for STS (simple, transparent and standardised) securitisation
On the 28th of August 2019 the law implementing Regulation (EU) 2017/2402 of the European Parliament and of the Council, of 12 December 2017 (“Regulation”), laying down a general framework for securitisation and creating a specific…
Colombia issues three decrees that modify the requirements of equity of some financial institutions
The Colombian government issued Decrees 1420 of 2019, 1421 of 2019 and 1349 of 2019, modifying the equity requirements for asset managers of third parties, credit establishments and insurance entities, in order to adapt them to international…
Colombia regulates the temporary transfer of securities and investments in participations issued by ETFs
With the issuance of Decree 1351 of 2019, some provisions of Decree 2555 of 2010, were modified related to investments in participations issued by stock exchange funds, temporary transfer operations of securities in the counter market, and the…
EURIBOR: the worst has been avoided, though much remains to be done
Two crucial steps for orderly implementation of a new EURIBOR benchmark compliant with the European Benchmarks Regulation (BMR) have just taken place. One is the authorization of EURIBOR administrator EMMI, and the other, the recent publication of…
Libra: the legal and regulatory aspects will be decisive for the new currency
The Libra Association, founded by Facebook and 27 other organizations, intends to promote the construction of a global financial infrastructure and issue from it a new cryptocurrency called Libra, enabling operators to carry out payment transactions…
Colombia aims to promote the use of small-scale distribution channels for financial products
The Colombian government released a technical document analyzing ways to extend the use of financial services, promoting access to technological innovation.
Regulations are issued on the use of cloud computing for financial services in Colombia
In response to the digital transformation of services for the storage, processing and use of data, and to promote the use of cloud computing for the provision of financial services, the Colombian Finance Authority (Superintendencia Financiera de…
These are Spain's measures to prepare for a no-deal Brexit in the fields of employment, judicial cooperation, financial services and customs
The Spanish government has adopted a range of contingency measures to prepare for the event of the United Kingdom leaving the European Union without an agreement on March 30, 2019. They are temporary measures approved through Royal Decree-Law 5/2019…
New draft external circular regulates payments with QR codes in Colombia
The Colombian Finance Authority has published Draft External Circular No. 03 of 2019 with the aim of promoting alternative ways to make electronic payments, consolidating the standardization and interoperability of payments systems, continuing the…
Colombia: financial institutions can invest in fintech companies
In order to maximize the benefits that innovation brings to the finance industry and thereby to increase people’s access to financial services, the Colombian Ministry of Finance issued Decree 2443 of 2018, authorizing credit establishments,…
Colombia: financial institutions can invest in fintech companies
In order to maximize the benefits that innovation brings to the finance industry and thereby to increase people’s access to financial services, the Colombian Ministry of Finance issued Decree 2443 of 2018, authorizing credit establishments,…
New rules issued for authorizing savings and deposit products in Colombia
In order to issue instructions regarding the rules for authorizing regulations for products from the electronic savings and deposit sections, and the mechanisms for resolving bridge banks, the Colombian Finance Authority (SFC) has issued External…