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What Does The Expression: Supervised By The Sfc Mean ?What Does The Expression: Supervised By The Sfc Mean ?

What Does The Expression: Supervised By The Sfc Mean ?

Whenever you hear or read the expression "surveilled Financial Superintendence of Colombia", this means that there is an institution that authorizes and monitors the activity performed by the entities that receive money from the public, entities where you are saving, investing your capital, have a loan, an insurance product or your pension.

The Financial Superintendence (SFC) has the task of preserving the public trust of the citizens and the stability of the financial system, maintaining the integrity, efficiency and transparency of the stock market and other financial assets, in the same way, to ensure the respect of financial consumers. Thus, exercises the inspection, surveillance and control of those who carry out financial, stock market and insurance activities and any other related to the handling or investment of resources received (collected) from the public.

In accordance with applicable regulation in Colombia, the only entities legally authorized to collect, handle, use or invest collected funds are those entities subject to the inspection, surveillance and control of the Financial Superintendence of Colombia, namely: banks; commercial financing companies; financial corporations; financial cooperatives; higher grade cooperative organizations of a financial nature; special official entities; trust companies; savings and credit sections of compensation funds; pension funds administration companies and lay off insurance; independent stockbroker companies; securities and agricultural stockbrokers; investment management companies; mutual Investment funds; security issuers registered in the National Registry for Securities and capitalisation corporations, in accordance with the modalities that the law expressly provides for each type of entity. In this sense, the only entities authorized to perform insurance operations are the insurance companies and cooperatives subject to the inspection, surveillance and control of the Superintendence.

The above mentioned entities are authorized to collect deposits from the public and must be incorporated as stock corporations or financial cooperatives. Hence, in our country no general partnership, limited partnership, limited liability company or sole proprietorship can obtain legal authorization in ordecapture resources from the public, much less a natural person.as citadas entidades autorizadas para captar recursos del público deben constituirse exclusivamente bajo la forma de sociedades anónimas o de cooperativas financieras.

Savings and credit cooperatives, multiactive cooperatives with savings and loans sections, are subject to the inspection, surveillance and control of the Superintendence of Solidarity Economy and are authorized to develop the financial activity exclusively with their partners or members.

If you have any concerns you may call our contact center number 307 8042 in Bogotá, our national line 018000 120100 or consult the following link of our web page: entities surveilled by the Financial Superintendence of Colombia.


    Last updated : 02/03/2016
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