El Fondo Nacional de Garantías (FNG) anunció que ha dispuesto de un programa de garantías de hasta un monto de 12 billones de pesos para respaldar créditos que atiendan las necesidades de liquidez y capital de trabajo de las micro, pequeñas y medianas empresas (Mipymes), de cara a la crisis generada por la pandemia del COVID-19.
Garrigues continues to consolidate its offering in Latin America with the hiring of Adriana Espinosa to head the infrastructure practice in Colombia. Espinosa is well-known in the Colombian market for her advice to companies and State bodies on the structuring and execution of major projects. Her appointment as an equity partner will be submitted to the next Garrigues Partners’ Meeting.
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 disclosure of information in the securities market through electronic means, among others.
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 standards.
The Ministry of Health and Social Protection, in a resolution dated February 20, 2019, has established that due to the private and reserved nature of medical records, health care entities (EPS) cannot order employers to provide the medical records of their employees and employers cannot request said records from their employees to process incapacity to work.
By means of Law 1955 of 2019, the National Government passed the National Development Plan (NDP) for the four-year term (2018-2022). The Plan includes a series of changes in Colombian labor policy, which are presented below.
The Colombian government released a technical document analyzing ways to extend the use of financial services, promoting access to technological innovation.
Garrigues took the award for Latin American Deal of the Year in the banking and finance category for its advice to Metro de Bogotá and Financiera de Desarrollo Nacional on the financing of the largest urban transport project in Colombia. The awards are presented annually in São Paulo by Latin Lawyer, one of the most prestigious publications in the sector, and bring together the main firms and companies in the region.
In Colombian public limited companies and simplified joint stock companies, inspection rights are subject to a series of rules regarding the documents and content that can be inspected. We recommend preparing regulations setting out how shareholders can exercise their rights in these cases. To that end, key points to be borne in mind are set out below.
The Directorate of National Taxes and Customs (DIAN) recently issued a reminder to taxpayers of the deadlines - established in Decree no. 2442 of December 27, 2018 issued by the Ministry of Finance - by which not-for-profit entities (ESAL) and Cooperative Sector Entities (ESCOOP) must update their registration in order to remain under the Special Tax Regime. Failure to complete this step can result in this special regime becoming non-applicable and loss of the benefits that it offers.