The New Financial Reform and Competition Laws in Colombia: Key Points for Bank In-House Counsel

Antonio José Núñez, Country Legal and Compliance Head, Citibank, Colombia

In a previous article I noted that Colombia was experiencing a deepening in state intervention in the activities of banks and other financial institutions, often inspired by consumer right concerns . New pieces of legislation, recently enacted, consolidate this trend and pose interesting challenges both for institutions and for in-house counsels.

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Colombia Competition Banking & Finance October 2009 Vol. 3, No. 9, Autumn 2009

Antonio Núñez

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Antonio José Núñez obtained his degree in law from Pontificia Universidad Javeriana (1989). He also holds an LL.M. from Harvard Law School (1990) and an MBA from Insead (1998) as well as degrees in Insurance law from Pontificia Universidad Javeriana (1992) and Finance from Universidad de los Andes (1995). He has worked with the Colombian Ministries of Finance and Justice, the Colombian Foreign Trade Bank (Bancoldex), Accenture and the Chamber of Commerce of Bogotá. He is currently the Country Legal and Compliance Head of Citibank-Colombia. He has been a lecturer at Universidad Externado de Colombia and Pontificia Universidad Javeriana since 1992 and has published several books, the most recent of which is "Diálogo sobre las Crisis Financieras" (2nd ed. in 2009), with ex-Minister of Finance Juan Camilo Restrepo. Recently he won the 2009 award for legal papers on financial law granted by the Latin American Federation of Banks (FELABAN) in the senior attorney category for a paper titled El análisis económico del derecho (law and economics) de la jurisprudencia sobre el sector financiero. Propuesta metodológica (to be published by Felaban) (Law and economics of financial sector rulings. A methodological proposal).

Citibank

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Citibank-Colombia was established in Colombia in 1929, and now has a consumer and corporate customer base of more than 200,000 individual accounts and almost 2,000 companies. Our 3,700 employees proudly serve their local communities every day in each of the businesses, which include corporate and personal banking, retirement services, investment banking, and treasury.

Colombia Competition Banking & Finance October 2009 Vol. 3, No. 9, Autumn 2009