As a result of Law 2195 of 2022, whereby entities exercising inspection, surveillance and control are ordered to issue guidelines for their supervised entities to implement programs for the management of risks associated with corruption and transnational bribery (C/TB). The Bogota’s District Legal Secretariat, by means of Circular 058 of 2022, established the guidelines for the implementation of two types of C/TB risk management and control programs, called the Integral Transparency and Business Ethics Program (PTEE-I) and a Simplified Transparency and Business Ethics Program (PTEE-S).
The scope of this regulation is applicable to all Non-Profit Organizations (NPO) domiciled in Bogota, under inspection, surveillance, and control of the Mayor’s Office of Bogota, including those NPOs in processes of dissolution or liquidation.
In this sense, NPOs whose total assets are equal to or greater than one thousand (1,000) MLW or that already have a risk management system in place, shall be required to implement a PTEE-I. This integral program should cover the following minimum elements:
- Compliance policy
- Risk matrix
- Policies and procedures for the C/BT risk management. For instance, conflicts of interest management, gifts and benefits policy, due diligence process for donors, allies, or cooperating agencies
- Whistleblowing channel
- Mechanisms for the disclosure and training of the program
On the other hand, NPOs whose total assets are under one thousand (1,000) MLW or do not have a risk management system, shall be required to implement a PTEE-S. This simplified program should cover the following minimum elements:
- Compliance policy
- Risk matrix
- Due diligence process for donors, allies, or cooperating agencies
- Whistleblowing channel
- Mechanisms for the disclosure and training of the program
The Board of Directors or highest corporate body of the NPO must approve the program and each of its updates. For its part, the legal representative must communicate and submit the program to the Bogota’s District Legal Secretariat no later than May 2022, according to the deadlines defined in section 5 of Circular 016 of 2022.
In accordance with the provisions of Circular 058, it is not mandatory to appoint or hire a compliance officer. However, if the NPO decides to do so, its requirements, functions, and responsibilities must follow the guidelines provided by the Superintendence of Companies in Chapter X of its Basic Legal Circular.