Colombia’s financial regulator, the Superfinanciera, has ordered Credicorp Capital to pay a penalty exceeding $8.87 million. The decision stems from an initial ruling against the firm, details of which have not been fully disclosed. Credicorp Capital has announced its intention to appeal the Superfinanciera’s decision, citing external factors impacting their responsibility in the matter. The company believes these external factors were not adequately considered in the initial assessment. Further legal proceedings are expected as Credicorp Capital challenges the imposed fine. The Superfinanciera has not yet commented on the appeal announcement. The outcome of the appeal could significantly impact Credicorp Capital’s financial standing in Colombia.