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Top related persons:
Andrew Kelly - 1 Grupo Aval - 1 Corficolombiana - 1 Odebrecht - 1 Kanishka Singh - 1 Isabel Woodford - 1 Leslie Adler - 1 David Gregorio Our - 1
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U.S . Securities - 1 Exchange Commission - 1 Washington , D.C - 1 REUTERS - 1 Grupo Aval - 1 U.S . Foreign - 1 U.S . Justice Department - 1 Securities and Exchange Commission - 1

Search resuls for: "Corficolombiana"


2 mentions found


☆ Colombian conglomerate Grupo Aval, subsidiary settle charges of violating US law
  + stars: | 2023-08-10 | by ( Kanishka Singh | Thomson Reuters | Kanishka Singh Is A Breaking News Reporter For Reuters In Washington Dc | ) www.reuters.com   time to read: +2 min
REUTERS/Andrew Kelly/File PhotoWASHINGTON, Aug 10 (Reuters) - Colombian conglomerate Grupo Aval (GAA.CN) and its bank subsidiary will pay over $80 million to settle charges of violating anti-corruption laws, U.S. authorities said on Thursday. After the settlement was reached, Grupo Aval said the Justice Department did not bring any enforcement action and the SEC did not make a claim against the company for bribery. Corficolombiana will pay a criminal penalty of $40.6 million, the U.S. Justice Department said in a statement. Corficolombiana had conspired with Brazilian construction firm Odebrecht to pay bribes to Colombian government officials, according to prosecutors. Corficolombiana also agreed to continue enhancing its compliance program and providing reports to the Justice Department regarding remediation and the implementation of compliance measures, the Justice Department said.
Persons: Andrew Kelly, Grupo Aval, Corficolombiana, Odebrecht, Kanishka Singh, Isabel Woodford, Leslie Adler, David Gregorio Our Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Grupo Aval, U.S . Foreign, U.S . Justice Department, Securities and Exchange Commission, SEC, Grupo, Justice Department, Odebrecht, U.S, Thomson Locations: Washington ,, Colombian, disgorgement, Swiss, Peru, Mexico, Argentina, Colombia, U.S, Washington
☆ Colombia central bank will raise rate to 11%
  + stars: | 2022-10-21 | by ( Nelson Bocanegra | ) www.reuters.com   time to read: +2 min
BOGOTA, Oct 21 (Reuters) - Colombia's central bank board will raise the benchmark interest rate at its meeting next week, which is likely its penultimate increase in a cycle meant to counteract inflation, analysts said in a poll on Friday. Twelve of 14 analysts surveyed said the seven-member board will increase borrowing costs by 100 basis points to 11%, while one analyst predicted a 75 basis point raise and another projected a 50 basis points uptick. The bank has increased the rate by 825 basis points since the start of this cycle in September 2021. The bank will likely make its last increase, of 50 basis points, in December, those polled said. But Ocampo acknowledged it would be difficult not to raise costs in tandem with other central banks.
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