The Superintendence of Companies, in exercise of its powers of inspection, surveillance and control, is allowed to report that it ordered the opening of two administrative investigations and the consequent formulation of two charges against the company RAPPI SAS, based on the powers provided for in numeral 3 of article 86 of Law 222 of 1995.
The above administrative actions are due to the presumed administrative responsibility of the company for the apparent non-compliance with the provisions established in Chapter X and Chapter XIII of the Basic Legal Circular, related to the regime of Self-control and Comprehensive Risk Management of ML/TF/ FPADM and Suspicious Operations Report (SAGRILAFT) and the obligation to fully implement a Transparency and Business Ethics Program (PTEE), respectively.
If, after carrying out the corresponding administrative sanctioning procedures, it is possible to establish the responsibility of the company for the transgression of the provisions related to SAGRILAFT and PTEE, this Entity may impose fines of up to two hundred legal monthly minimum wages in force.
In this regard, the Superintendent of Companies, Billy Escobar Pérez, stated “Within the framework of the Entity’s supervision policy, the provisions of the Commercial Law and the recommendations of intergovernmental organizations and entitiesthe Entity continues with the commitment to verify compliance with the guidelines regarding the self-control system and comprehensive risk management, in order to prevent negative consequences for the country’s economy and for companies, which may translate into operational, legal risks , reputational and contagion”.