New rules for foreign NOPS and Chambers of Commerce

On November 6th, the Superintendence of Companies published a draft to update Chapters X and XIII of the Basic Legal Circular, with the aim of modifying the obligations related to SAGRILAFT and the Business Transparency and Ethics Program (PTEE). These changes apply to Chambers of Commerce and foreign Non-Profit Entities (ESAL) with permanent operations in Colombia.

It is proposed that foreign ESALs adopt the “Minimum Measures Regime” (RMM), a less burdensome approach focused on risk identification, particularly related to corruption and international bribery, as outlined in Chapter XIII.

Regarding the Chambers of Commerce, differentiated measures will be applied based on their size and capacity. Those with annual revenues exceeding 40,000 SMMLV will be required to comply with both SAGRILAFT and PTEE, in accordance with the guidelines of Chapters X and XIII.

Chambers with revenues between 9,000 and 40,000 SMMLV must follow the RMM and only evaluate specific corruption risks, as stipulated in Chapter XIII. Finally, Chambers with revenues below 9,000 SMMLV will be exempt from these obligations, although it is recommended that they voluntarily adopt these practices to promote transparency.