Colombia Update: COMPLIANCE – DUE DATES FOR THE IMPLEMENTATION OF SAGRILAFT AND PTEE

May 31, 2022, is the deadline for obliged entities to implement SAGRILAFT (System for Self-control and Management of the Integral Risks of Money Laundering, Terrorism Financing and Financing of the Proliferation of Mass Destruction Weapons) and PTEE (Transparency and Ethics Program) in pursuant to Externals Circulars N° 100-00016 of 2020 (and its amendments and supplements) and N° 100-000011 of 2021 (and its amendments and supplements) of the Superintendence of Companies, respectively.

Obliged entities that do not implement and comply the External Circulars, might face the opening of an administrative investigation which could end-up with the imposition of fines of up to 200 Legal Monthly Minimum Wages by the Superintendence of Companies.

If you require our support in order to guarantee the full compliance of these obligations, or would like to check if your entity is obliged and to what extent, please do not hesitate to contact our Corporate and Compliance Law team.

By LLOREDA CAMACHO & CO, Colombia, a Transatlantic Law International Affiliated Firm.  

For further information or for any assistance please contact colombia@transatlanticlaw.com 

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