The Superintendence of Companies recently issued External Circular No. 100-000004 of October 4, 2023 (the “Circular”), which modified Chapter X and XIII of the Basic Circular issued by this entity.

Under the Circular, the Superintendence included foreign non-profit entities with permanent business in Colombia (“Foreign Non-Profit Entities”) and the Chambers of Commerce nationwide as entities obliged to implement the Self-Control System and Comprehensive Risk Management for Money Laundering Terrorism Financing, and Financing of Weapons of Mass Destruction Proliferation (“SAGRILAFT”) and the Corporate Transparency and Ethics Program (“PTEE”), according to the Circulars 100-000016 of December 24, 2020, and 100-000009 of August 9, 2021. 

The Circular established the following deadlines for implementing the above systems:

Feel free to contact us for personalized guidance to ensure that your entity remains up to date with these important updates. We look forward to discussing with you any inquiries that you may have in connection with the above.