Through External Circular 100-000002 of 14 March 2025, the Superintendence of Companies (Supersociedades) eliminated the requirement to file Report 42 on Business Practices, which certain supervised companies had traditionally been required to submit every year.
What does this change entail?
- As of 2025, companies are no longer required to file Report 42, which contained non-financial information on corporate governance practices, business ethics and sustainability, among other matters.
- The decision forms part of a strategy to simplify and rationalise administrative burdens, so that mandatory reports meet criteria of usefulness, relevance and efficiency.
- The measure does not release companies from their legal duties regarding corporate governance and transparency; rather, it restructures the way in which the Superintendence will monitor that information.
For further information, please see the official Supersociedades announcement:
Official Supersociedades announcement (in Spanish)
For questions about how this change may affect your company, please contact:
Carolina Acosta
Partner, Corporate Law
carolina.acosta@canonasociados.com
