The Colombian Financial Conglomerates Law (FCL) came into force on February 6 2019. This watershed moment marks the most important regulatory event for the Colombian financial system in over a decade. The wide powers that the FCL grants the local regulator and supervisor will align the country to international best practices. They will also give way to a framework that reflects the growing complexity, importance and internationalisation of financial conglomerates (FCs).
        
        
        
            
                
    
        
        
            March 12 2019