Regulatory Alerts2025-06-26
Regulatory Provisions for Factoring Entities
The Superintendency of Banks and Other Financial Institutions has issued Resolution SIB-OIF-XXXIII-396-2025, establishing regulatory provisions for factoring entities, effective June 26, 2025. This resolution details the requirements for the constitution and commencement of operations for new factoring companies, including extensive documentation for shareholders and a minimum paid-in capital. Existing factoring companies must submit a registration application and an action plan to comply with these new requirements within ninety days, and the board of directors is assigned significant responsibilities for comprehensive risk management, particularly concerning Anti-Money Laundering, Terrorism Financing, and Proliferation Financing (AML/TF/PF).