The Superintendency of Companies imposed a 65 million peso fine on Diego Fernando Perdomo Rojas for not timely disclosing control over a conglomerate of companies, including Independiente Santa Fe S.A. This sanction highlights the obligation of natural persons to declare business groups and control situations. Superintendent Billy Escobar Pérez stressed the importance of such disclosures for market confidence and protection of interests in sports entities.
The Superintendency of Companies announced the imposition of a 65 million peso (M/CTE) fine on Mr. Diego Fernando Perdomo Rojas. The sanction stems from his failure to timely disclose the control he exercises over the conglomerate comprising Perlun S.A.S., Independiente Santa Fe S.A., La Tienda Roja S.A.S., Santa Fe de Bogotá S.A.S., and La Piel del León S.A.S.
In the administrative act, the entity reiterated that, under the parent-subsidiary regime, natural persons controlling companies must declare the existence of business groups and control situations. This obligation extends beyond parent companies alone, contrary to the investigated party's claim.
Superintendent Billy Escobar Pérez stated: “It is the Superintendency of Companies' duty to ensure proper registration in the commercial registry of business groups and control situations. In recent years, significant investigations have been conducted in this area, with results that significantly contribute to generating market confidence, in line with good corporate governance principles. Identifying the true controllers and all entities involved in conglomerates can be of great importance to stakeholders interacting with companies, especially in the realm of clubs with professional athletes. This disclosure impacts aspects such as controllers' subsidiary liability, financial statement consolidation, related-party transactions, protection of minority shareholders, conflict of interest management, voting in reorganization agreements, and transfer pricing regimes.”
Perdomo Rojas has the right to exercise his defense within the timeframe set by law. This action aims to enhance transparency in corporate control, particularly in sectors like sports.
