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Colombian regulators take over troubled brokerage

Friday, November 2, 2012

Colombia’s financial regulators will take over Interbolsa’s brokerage unit after the company said it is facing a “temporary” funding shortage.

The stock exchange suspended trading in Interbolsa for five working days, according to a statement on its website, after the shares plunged a record 30 percent yesterday because of concerns about the company’s financial situation.

Authorities set an initial period of two months to decide whether to liquidate the company.

Source: Bloomberg