Lineamientos para entender la importancia del riesgo legal y su tratamiento, en el sistema financiero colombiano

Abstract

This article sets out the management of some guidelines, which facilitate the understanding of the importance of legal risk in the entities of the Colombian financial system, based on Colombian and foreign regulation, in order to help strengthen the work of the interested parties: the Financial Superintendence of Colombia, the self-regulator of the stock market, that is the Banco de la República, consumers and financial entities. The possibility of proposing new banking businesses or improving existing ones is stand out, from the perspective of legal risks. The concept of legal risk was analyzed, and interviews were conducted with officials from three financial entities, which helped to propose a definition of legal risk, since currently there is no one that is precise and applicable to the financial system. Due diligence and management of legal risks is stand out, aligned with the strategy of the financial entities analyzed, to finally propose an analysis of the most important legal risks, because at the present is possible that they are the ones that are breached in high grade.