Canada    FinTech Guide    Chapter 14    Colombia


14. RegTech
Colombia  Colombia

The social and political climate towards RegTech-services is positive. The Colombian Finance Superintendency just launched the first regulatory sandbox in Colombia to facilitate the innovation in the Colombian financial industry.

This regulatory sandbox would facilitate that FinTech companies and other innovators may conduct different projects in a controlled environment under the Colombian Finance Superintendency’s supervision.

Hopefully, the regulatory sandbox would bring the application of new modern technologies to the banking and finance’s regulation under the Colombian Finance Superintendency’s control.



Legal Affairs


RegTech services are not yet regulated under Colombian Law.

In any case, please note that the Colombian Finance Superintendency just launched the first regulatory sandbox in Colombia to facilitate the innovation in the Colombian financial industry.



Economic Conditions


There are no official figures in this connection.

The RegTech market is still unexplored in Colombia.

Only a few enterprises in Colombia provide RegTech services such as Big Data analysis.



Contributing Authors

Parra Rodríguez Abogados S.A.S.

Alvaro Parra Gómez
Bogota, Colombia


Bernardo Rodríguez Ossa
Bogota, Colombia

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Chapter Index:


1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

Disclaimer:
The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 May 2018