During the past year Colombian securities market operators and financial regulators have taken strong steps towards the internationalisation of the Colombian securities market. 2010 and the first quarter of 2011 has been a period where the securities market has seen a great deal of international activity after the integration of the Colombian, Peruvian and Chilean exchanges and the fact that foreign issuers are now listing their securities to be traded in the Colombian local market. In addition, the possibility for foreign issuers to conduct public offers of their securities in the Colombian market by registering their securities in the Colombian national registry of securities and issuers (RNVE) has now been further regulated with the intention of allowing more foreign issuers to conduct public offerings in Colombia.
Many firms in Colombia have a reputation for certain types of
transactions or for working in certain industries, but the group of
firms that do financial work is small enough that there is not a great
deal of real specialisation – most of the firms in the market handle
most types of corporate work there is to do in the country.
Almost every lawyer we spoke to feels that the amount of money coming
into Colombia and the potential for profit there means that more of the
big international firms will establish a legitimate presence in the
country soon, not just a representative desk or an alliance with a local
CONTEXT AND TRENDS
It is an excellent time to be in business in Colombia right now and it's a good time to be a financial attorney as well. The country's GDP growth rate continues to hover between 4-5% annually and investors are coming to the country from the region and further abroad....