Bogota/ The massive companies within the monetary sector that the covid couldn’t cease
The entity, which now enters this section of the Colombian monetary enterprise, finishing about 28, acquired the approval of the Superfinanciera by means of Decision 1091 of December 4, however launched solely 20 days later.
Whereas Colombians have been on the point of rejoice Christmas on December 24, the shareholders of JP Morgan Corporacion Financiera, assembly in a unprecedented assembly, gave the go-ahead to the reform of the entity’s bylaws with a view to its conversion into financial institution, a course of that started in March 2019 and culminated within the approval of the Monetary Superintendency, as anticipated on December .
The choice to grow to be a financial institution was made by the shareholders of JP Morgan in March 2019, however it was finalized as soon as the directives of the monetary company filed their intention with the Superfinancial, with which the method started firmly.
In its approval decision, the monetary system oversight and management officer indicated that the choice was taken after the JP Morgan directives in Colombia “submitted the feasibility examine that demonstrates the comfort of the operation and the explanations that help it. ”
However, as well as, he specified that in addition they accredited the necessities established by the Colombian laws for the issuance of the working allow there are 73 procedures underway earlier than the Monetary Superintendency that await the examine and approval of the authority to enter to compete on this sector that’s in full transformation and adaptation.
Of those requests, 5 are to present life to the identical variety of entities: two banks, one insurance coverage firm, a Specialised Firm in Digital Deposit and Funds (Sedpe) and a financing firm.
However, as well as, 15 monetary entities overseas are asking for a clue in Colombia to have their consultant workplace; 4 different institutions with operations within the nation request the blessing of the Superfinanciera to consummate their merger and three extra will perform operations for the switch of property, liabilities and contracts.
Different procedures which are carried out earlier than the market authority must do with the structure of a securities ranking firm, 21 entities that can negotiate shares amongst themselves, whereas 14 extra will change homeowners within the coming weeks.