| Sumario: | The present research has as a main objective to review the status quo of the correspondent agreement (CA) in Colombia and propose a modification to its regulation. For this to be done, the secondary objectives will be the following: (i) to determine the need of regulating the CA in times of post-crisis or financial scandals, (ii) to discuss about the legally binding nature in Colombia on permitting the entry of foreign financial entities and about the convenience of having a specific regulation, (iii) to establish a legal framework with respect to the CA in Colombia, (iv) to illustrate the unsuitable use of the CA in the Interbolsa affair, (v) to analyze the authorization criteria of the CA in Colombia, and (vi) to make a comparison between the Colombian regulations and the American and Chilean ones, in order to recommend, on that basis, the adoption of a reform to the current legislation in Colombia. The methodology used was the deductive one, within which a synchronous plan, followed by a dialectic plan, wereused.
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