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The Superintendency of Transportation issued a resolution adding Chapter 10 to Title V of the Single Circular on Infrastructure and Transportation, establishing the mandatory implementation of the Business Transparency and Ethics Program (PTEE) for regulated companies in the sector.
Key Points of the PTEE
Transnational Corruption and Bribery Risk Management (CO/ST)
Companies must identify, assess, prevent, and mitigate transnational corruption and bribery risks through a Risk Matrix, effective internal controls, and periodic audits.
Mandatory Compliance Policies
The adoption of specific policies is required, such as: zero tolerance for corruption, conflicts of interest, whistleblower protection, government procurement, donations and sponsorships, political campaign financing, lobbying, among others, ensuring an ethical and transparent framework for action.
Compliance Officer
Companies must appoint a Compliance Officer with accredited training in risk management, who is responsible for leading the PTEE, coordinating internal audits, training staff, and reporting suspicious transactions to the UIAF and the Transparency Secretariat.
Transparency and Business Ethics Tools
A Procedures Manual and a Code of Ethics and Good Governance must be implemented, and secure, confidential, and non-retaliatory reporting channels must be established, accessible to employees, customers, suppliers, and third parties.
Transparency in Business Information
Obligated companies must publish key information on corporate governance, compliance policies, and the PTEE itself on their official channels, promoting trust and accountability to society.
Implementation Deadline
Companies have eight months from the date of notification or registration to implement the PTEE in its entirety. With this measure, Colombia is aligning itself with the international standards of the OECD, OAS, and UN in the fight against corruption, strengthening corporate integrity and the competitiveness of the transportation sector.
At RSM, we assist organizations in the design, implementation, and auditing of Compliance Programs, ensuring not only regulatory compliance but also the generation of trust and business sustainability.
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