Colombia

The SIC is the primary competition authority with investigation, adjudication, and sanctioning powers. The Superintendence of Finance and the Aeronautics Authority have limited sector-specific jurisdiction.

Horizontal agreements including price-fixing, market allocation, and bid-rigging are prohibited. Bid-rigging in public procurement also carries criminal penalties under Law 1474 of 2011.

Vertical agreements that restrict competition are prohibited, including resale price maintenance, exclusive dealing, and tying. Assessed under a rule-of-reason approach requiring demonstration of anti-competitive effects.

Abuse of dominant position is prohibited under Decree 2153 of 1992. Prohibited conduct includes predatory pricing, discrimination, tying, and refusal to deal. Market dominance is assessed on market share and other factors.

Mandatory pre-merger notification for transactions exceeding combined asset or revenue thresholds (approximately COP 272 billion in assets or COP 183 billion in revenue as of 2024). The SIC reviews within statutory timeframes.

Leniency programme (Decree 1523 of 2015) grants total or partial exemption from fines for cartel participants who provide evidence. The first applicant may receive full immunity.

The SIC may accept commitments (garantias) from investigated parties to address competition concerns. Used primarily in abuse of dominance and merger cases. No formal settlement for cartels.

Fines up to 100,000 statutory minimum monthly wages for undertakings (approximately COP 130 billion). Individual fines up to 2,000 minimum wages. Criminal sanctions for bid-rigging (6-12 years imprisonment).

No dedicated digital markets legislation. The SIC has applied general competition rules and conducted sector studies relating to digital platforms and e-commerce.

SFC (financial supervision), CRC (telecommunications), CREG (energy), and the Aeronautics Authority have sector-specific competition functions, though SIC retains primary jurisdiction.

The SIC has powers to conduct inspections (visitas administrativas), seize documents, and compel testimony. Investigations may be initiated ex officio or upon complaint.

Private damages actions may be brought before ordinary courts following a SIC finding. Stand-alone private competition actions are permissible in principle but remain uncommon.

Cooperation agreements with US, EU, and Pacific Alliance partners (Chile, Mexico, Peru). Active member of ICN and participates in OECD competition reviews. Andean Community (CAN) rules also apply.

Active cartel enforcement in sugar, rice, and nappies sectors. Increased merger scrutiny in financial services and healthcare. Growing focus on digital markets and public procurement collusion.