Sustainable development could boost Colombia’s financial system

Though it has navigated the global slump in oil prices better than some of its neighbors, Colombia’s economy has still not been immune, as shown by indicators including slowing business volumes. Latin America Financial Services Adviser asks: Will Colombian Banks Thrive in the Months Ahead? How are Colombia’s current economic conditions affecting the country’s financial services…

Q&A: Should Mexico Impose New Regulations on ‘Sofipos’?

Q: Mexico’s financial regulator, CNBV, is considering new rules for popular financial societies, or Sofipos, following the government’s seizure of Ficrea SA, whose collapse amid an alleged fraud led to losses for some 6,000 savers. New regulations could include changes to asset concentration limits, CNBV’s vice president said earlier this month. Do consumers face increased…

Cybersecurity in Latin America

How well are Latin American banks protected against cyber attacks? Inter-American Dialogue’s Latin America Advisor asked Marcela Cristina Blanco, associate attorney in Diaz Reus’ Bogota, Colombia office, “How Well Do Latin American Banks Protect Against Cyber Attacks?” Latin America Advisor: More than half of Latin American financial institutions have experienced some type of electronic breach…

14th Annual FIBA Anti-Money Laundering Compliance Conference

The 14th Annual FIBA AML Conference on February 20-21, 2014 at Miami’s Intercontinental Hotel will convene industry leaders from both private and public sectors to debate key insights on regulatory expectations and best practices in order to ensure that transnational banks and financial institutions have at their disposal the information necessary to operate safely in the current BSA/AML/OFAC…

Marta Colomar-Garcia

How Healthy Is the Banking Sector in Mexico?

Inter-American Dialogue’s – Latin America Advisor – Financial Services October 30, 2012 feature Q&A – Guest Comments from Marta Colomar Garcia, head of Diaz Reus, Mexico. Q: The offering of about 25 percent of the Mexican unit of Banco Santander raised $4 billion last month for the bank in Mexico’s largest-ever IPO. Amid heavy demand,…

Understanding Risks of Investing in Iraq Key to Success

Commentary by Michael Diaz, Jr., Halim Gebeili, and Arti Sangar Daily Business Review August 1, 2012 As Iraq recovers from decades of war, U.S. businesses are taking a close look at potential investment opportunities. Project financing is par­ticularly important, as Iraq needs new power plants, housing developments, roads, bridges, ports and telecommu­nications systems. Because security…

Foreign Direct Investment in Venezuela

Economic and political instability, nationalization, increasing government intervention, and restrictive legal framework has made Venezuela’s investment climate considerably less welcoming as compared to the past. This article examines the current challenges for foreign investment in Venezuela. It also provides an update on Mobil Corporation and others v. Bolivarian Republic of Venezuela, in which an International…

Dodd-Frank and Basel III: Implementation in the U.S.

The Dodd-Frank Wall Street Reform and Consumer Protection Act requires federal banking agencies to set minimum leverage capital and risk-based capital requirements for financial institutions. Similarly, under the newly implemented Basel III regulatory standards, banks will be required to hold more liquid capital. Both regulatory reforms impose additional and more stringent standards pertaining to capital…