Bancario y Financiero
Why not bank loans to EU startups?
One way to boost the digital economy in the EU would be to help banks making loans to new businesses. To do this, the institutions themselves need to know about venture debt and other possible products, and the European and national authorities need to support a stable legal framework adapted to the business environment including the area of bank finance.Colombia issues three decrees that modify the requirements of equity of some financial institutions
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.Colombia regulates the temporary transfer of securities and investments in participations issued by ETFs
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.EURIBOR: the worst has been avoided, though much remains to be done
Two crucial steps for orderly implementation of a new EURIBOR benchmark compliant with the European Benchmarks Regulation (BMR) have just taken place. One is the authorization of EURIBOR administrator EMMI, and the other, the recent publication of the official statement describing the methodology and other technical specifications for the benchmark. These milestones are very important, but there continue to be legal risks and everyone would be well advised to pay more attention than ever before to how things unfold in the coming months.Libra: the legal and regulatory aspects will be decisive for the new currency
The Libra Association, founded by Facebook and 27 other organizations, intends to promote the construction of a global financial infrastructure and issue from it a new cryptocurrency called Libra, enabling operators to carry out payment transactions and other financial solutions for consumers and businesses throughout the world.Regulations are issued on the use of cloud computing for financial services in Colombia
In response to the digital transformation of services for the storage, processing and use of data, and to promote the use of cloud computing for the provision of financial services, the Colombian Finance Authority (Superintendencia Financiera de Colombia or “SFC”) has issued External Circular no. 005- 2019, in which it sets out instructions relating to the use of cloud computing services.Colombia: financial institutions can invest in fintech companies
In order to maximize the benefits that innovation brings to the finance industry and thereby to increase people’s access to financial services, the Colombian Ministry of Finance issued Decree 2443 of 2018, authorizing credit establishments, financial service firms and capitalization associations to acquire holdings in the share capital of domestic or international companies that have as their sole purpose to develop and apply innovation and technologies connected with the corporate purpose of the supervised entities.New rules issued for authorizing savings and deposit products in Colombia
In order to issue instructions regarding the rules for authorizing regulations for products from the electronic savings and deposit sections, and the mechanisms for resolving bridge banks, the Colombian Finance Authority (SFC) has issued External Circulars Nos. 025 and 026 of 2018.