{"id":7534,"date":"2013-10-02T17:39:12","date_gmt":"2013-10-02T17:39:12","guid":{"rendered":"https:\/\/diazreus.com\/business-crime-in-colombia-2014-edition\/"},"modified":"2013-10-02T17:39:12","modified_gmt":"2013-10-02T17:39:12","slug":"business-crime-in-colombia-2014-edition","status":"publish","type":"post","link":"https:\/\/diazreus.com\/es\/business-crime-in-colombia-2014-edition\/","title":{"rendered":"Business Crime in Colombia | 2014 Edition"},"content":{"rendered":"

This article appeared in the 2014 edition of The International Comparative Legal Guide to: Business Crime; published by Global Legal Group Ltd, London.<\/p>\n

General Criminal Law Enforcement in Colombia<\/h4>\n

By Michael Diaz, Jr. and Marcela C. Blanco<\/p>\n

1.1 What authorities can prosecute business crimes, and are there different enforcement authorities at the national and regional levels?<\/p>\n

The Office of the Attorney General of Colombia, \u201cAGO\u201d (Fiscal\u00eda General de la Naci\u00f3n), is the national authority designed to prosecute offenders, investigate crimes, and process indictments.\u00a0 The AGO has the authority to prosecute all crimes within Colombia.<\/p>\n

1.2 If there are more than one set of enforcement agencies, please describe how decisions on which body will investigate and prosecute a matter are made.<\/p>\n

Colombia has a centralised system of government.\u00a0 The AGO is responsible for prosecuting violations of the Colombian penal law throughout the country; however the plaintiff role is not concentrated exclusively in the Attorney General Office.\u00a0 The Inspector General\u2019s office, the \u201cIGO\u201d (Procuradur\u00eda General de la Naci\u00f3n or Ministerio P\u00fablico), which is in charge of monitoring and sanctioning public officials\u2019 conduct, is able to intervene in criminal proceedings on behalf of the public interest in order to ensure that access to justice and due process are being observed.\u00a0 Victims of crimes have the ability to participate in the judicial proceedings through their legal representatives as a way of ensuring their right to justice.\u00a0 All parties can formally participate in a Colombian criminal trial.<\/p>\n

1.3 Is there any civil or administrative enforcement against business crimes?\u00a0 If so, what agencies enforce the laws civilly and which crimes do they combat?<\/p>\n

In Colombia, various governmental entities are authorised to investigate and bring civil enforcement proceedings.\u00a0 In civil proceedings, entities can seek civil monetary penalties and injunctive relief.\u00a0 The following are some of the entities that conduct civil enforcement matters.<\/p>\n

Superintendency of Corporations (SC): The SC supervises all commercial corporations belonging to the real sector of the Colombian economy in compliance with corporate and accounting laws and regulations.\u00a0 It may impose administrative sanctions over said companies when necessary.\u00a0 Article 57 Commercial Code (Cco), for example, prohibits inaccurate, false, or incomplete accounting.\u00a0 Pursuant to its supervisory power, the Superintendence may: (i) take the control over, or intervene in the control of, the company; (ii) order its dissolution; and (iii) impose fines if, for example, the company does not register a change of control over the company before the competent authority.<\/p>\n

Superintendency of Industry and Commerce (SIC): The SIC may impose fines against persons who develop commercial activities without being registered before the mercantile register.\u00a0 The same sanction may be imposed for the lack of registration of new commercial establishments.\u00a0 The SIC may also impose sanctions to companies who violate the applicable rules of Law 256 of 1996 regarding unfair trade or cut-throat competition.<\/p>\n

Finance Superintendence (FS): The inspection, surveillance, and control authority of the financial, insurance, and securities markets and any other activities related to the investment or management of funds of the general public is the FS.\u00a0 In general, the FS has been entrusted with exercising surveillance over the Colombian financial system with the duty of: (i) preserving its stability and trustworthiness; (ii) promoting, organising, and developing the securities market; and (iii) protecting investors and users of financial and insurance services.\u00a0 All companies that issue publicly traded securities are subject to the surveillance of the FS.<\/p>\n

In addition, the FS can impose the following sanctions and penalties, among others, depending on the type of infringement.\u00a0 These include warnings, fines, suspension from management of entities under their surveillance, removal of administrators and auditors, suspension or cancellation of registration from certain public registries, and taking over the operation and\/or winding-up of entities under the surveillance of the SFC.\u00a0 However, regulatory authorities are not entitled to order disgorgement of illegal profits or indemnifications for losses suffered by private parties.\u00a0 These would have to be pursued through the courts.<\/p>\n

Finally, it is important to note that there are other acts that may be punished by competent authorities.\u00a0 They include (a) the infraction of the prohibition for one person to occupy more than five positions in the board of directors of different companies; (b) the fraud or falsification of information; and (c) the misdirection of working capital of a foreign company in investments different to the social purpose of the company by its subsidiary; among others.<\/p>\n

Read complete article in PDF. Business Crime in Colombia 2014 Edition<\/a><\/p>\n

Online at THE COMPARATIVE LEGAL GUIDE TO BUSINESS CRIME 2014 <\/a>.<\/p>\n

See also: Overview of Business Crime in Latin America | 2014<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This article appeared in the 2014 edition of The International Comparative Legal Guide to: Business Crime; published by Global Legal Group Ltd, London. General Criminal Law Enforcement in Colombia By Michael Diaz, Jr. and Marcela C. Blanco 1.1 What authorities can prosecute business crimes, and are there different enforcement authorities at the national and regional levels? The Office of the … Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":3045,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rs_blank_template":"","rs_page_bg_color":"","slide_template_v7":"","inline_featured_image":false,"footnotes":""},"categories":[550,231],"tags":[644,560,618,622],"class_list":["post-7534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eventos","category-articulos","tag-uncategorized-ru-34-es","tag-uncategorized-ru-es","tag-uncategorized-ru-26-es","tag-uncategorized-ru-28-es"],"acf":[],"yoast_head":"\nBusiness Crime in Colombia | 2014 Edition<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/diazreus.com\/es\/business-crime-in-colombia-2014-edition\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business Crime in Colombia | 2014 Edition\" \/>\n<meta property=\"og:description\" content=\"This article appeared in the 2014 edition of The International Comparative Legal Guide to: Business Crime; published by Global Legal Group Ltd, London. 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