Colombia

Regulates Art. 73 of Ley 1474 de 2011 as amended by Art. 31 of Ley 2195 de 2022. Adds a chapter to the Decreto 1081 de 2015 on how national, departmental and municipal entities implement the programmes, with the Secretaría de Transparencia fixing the minimum standards through a Technical Annex. Effective on publication (30 August 2024).

Adopts the Taxonomía Verde de Colombia (Colombia's green taxonomy), per the SFC's sustainable finance page.

Requires public entities to implement Programas de Transparencia y Ética Pública (Art. 31) and supervised legal entities to adopt business transparency and ethics programmes (Art. 9). Art. 12 sets a due diligence principle covering identification of the beneficial owner, and Art. 13 lists the authorities with access to the Registro Único de Beneficiarios Finales (RUB), including the SFC, the Superintendencia de Sociedades and the UIAF.

Makes legal entities administratively liable when employees, contractors, administrators or associates offer or give benefits to a foreign public official in an international business (Art. 2). The Superintendencia de Sociedades investigates and sanctions (Art. 3), with fines of up to 200,000 monthly minimum wages and debarment from state contracts for up to 20 years (Art. 5), and promotes business ethics programmes (Art. 23).

Develops the right to know, update and rectify information held in databases. Sets the data processing principles (Art. 4), the rights of the data subject (Art. 8), prior informed authorisation for processing (Art. 9) and duties of controllers and processors (Arts. 17 and 18). Art. 19 gives supervision to the Superintendencia de Industria y Comercio.

Adds Título VII BIS to the Penal Code, 'De la protección de la información y de los datos' (Arts. 269A to 269J). Offences include abusive access to a computer system, interception of computer data, malicious software, violation of personal data, website spoofing to capture personal data, theft by computer means and non-consented transfer of assets.

Amends the Penal Code offences of financing terrorism (Art. 16, amending Art. 345) and money laundering (Art. 17, amending Art. 323). Art. 1 amends Art. 102 of Decreto 663 de 1993 on reporting to the UIAF and Art. 2 amends Art. 105 on confidentiality. Art. 20 requires private persons who detect listed persons or related assets to inform the authorities.

General law setting the objectives and criteria the Government must follow when regulating activities that raise public funds through securities. Article 1 lists investor protection, market efficiency, systemic risk management and market integrity and confidence as objectives; Arts. 24 to 26 deal with self-regulation of the market.

Creates the UIAF as a special administrative unit attached to the Ministry of Finance and Public Credit. Sets its objectives (preventing and detecting money laundering and terrorist financing operations), requires financial entities to report suspicious operations immediately and bars them from disclosing the report to the persons concerned.

Defines the Banco de la República as a public-law legal person with constitutional rank, its own legal regime and administrative, asset and technical autonomy (Art. 1), charged with preserving the purchasing power of the currency (Art. 2). Art. 16 gives its Board of Directors the monetary, credit and exchange powers; Art. 46 puts inspection and oversight of the bank with the President of the Republic.