Given the recent regulatory changes in the Banco de la República’s requirements for reporting information from compensation accounts, we have prepared a summary in video format to facilitate understanding of this new regulation, which applies as of November 1, 2023.

Broadly speaking, the new guidelines require adjustments by account holders regarding:

User and permission management to operate the new Foreign Exchange Information System with the profiles granted by the Banco de la República. Individual registration is required for both individuals and legal representatives.

Representation and authorization of third parties to report on behalf of the company through the agent-linking module.

Transmission of foreign exchange declarations and movement reports through the new system, both via electronic forms and in batches in XML files with a defined structure and standards.

Aware of the impact of adapting to these new guidelines, we have prepared an explanatory video that summarizes the main points to consider.

We cordially invite you to watch this audiovisual material at the following link:

We hope it continues to be useful for correctly interpreting the new regulation and making the corresponding adjustments to your operations.

We remain available for any specific questions through specialized advice.