Legal Alert
2024-11-25
On November 18, 2024, NCG 521, issued by the CMF, came into effect, modifying the validity section of NCG 503 to establish new instructions regarding the transition regime to the new knowledge accreditation mechanism.
Legal Alert
2024-11-15
The proposal uniforms information requirements and introduces new obligations for funds and their managers for submitting information to the regulator. Among the new requirements, they concern the expenses and effective remunerations incurred by funds, as well as the characterization of investors, among others. The proposal will remain open for public consultation until December 6, 2024.
Legal Alert
2024-11-12
Through General Rule No. 520 (NCG 520), issued following the public consultation process conducted between February 8 and April 8, 2024, the Financial Market Commission (CMF) amended General Rule No. 200, modifying the calculation method and limits on counterparty credit risk exposure in derivative transactions by implementing an approach measured through the credit equivalent, among other changes.
Legal Alert
2024-11-07
The new ruling revokes the existing regulation and establishes a new procedure to register for the simplified regime applicable to taxpayers who provide services remotely to taxpayers not subject to VAT, as well as the instructions to opt for the different tax periods under said regime.
Legal Alert
2024-11-06
General Rule No. 519, issued following the public consultation process held between August 19 and September 27, 2024, the CMF has postponed the obligation for securities issuers who have not yet done so to report an integrated annual report for the first time; has adopted international standards regarding sustainability; and has exempted entities for which the regulatory requirement would be disproportionately costly from the obligation to submit an integrated annual report.
Legal Alert
2024-10-18
On October 14, 2024, the Financial Market Commission (“CMF”) began a public consultation period until November 6 regarding a regulatory proposal that enhances certain rules applicable to the registration and authorization of financial service providers under Law No. 21,521 (the “Fintech Law”), as well as some of their obligations.
Legal Alert
2024-10-16
On October 8, 2024, the Financial Market Commission (“CMF”) submitted for public consultation a regulatory proposal aimed at determining the requirements and conditions to be considered an independent director of publicly traded companies and to regulate the content of the general policy for the election of directors in its subsidiary companies.
Legal Alert
2024-10-15
On October 7, 2024, the Financial Market Commission (“CMF”) submitted for public consultation a regulatory proposal which complements the entry into force of General Rule No. 503, regarding the accreditation of suitability and knowledge for the provision of financial services. The deadline for submitting comments on this regulatory proposal is October 30, 2024.
Legal Alert
2024-07-30
On July 25, 2024, the Financial Market Commission issued General Rule N° 516 (“NCG 516”), which establishes common criteria for reporting essential and confidential events. The NCG 516 will enter into effect on September 1, 2024.
Legal Alert
2024-07-29
The Commission for the Financial Market has issued the Proposal, which would facilitate the processing, analysis, and oversight of the required monthly information on bond issuance and placement that issuers must provide to the referred Commission. For this purpose, the Proposal seeks to modify the format and method of submission of this data, while maintaining the content and delivery frequency. The deadline for making comments on the Proposal expires on August 16, 2024.
Legal Alert
2024-07-26
On July 8, 2024, the Financial Market Commission initiated a public consultation period for the draft regulation that amends General Rule No. 502, which regulates the registration, authorization, and obligations of financial service providers under the Fintech Law. The regulatory project will be open for public consultation until August 22, 2024.
Legal Alert
2024-07-25
On July 8, 2024, the Financial Market Commission initiated a public consultation period for the draft regulation that amends General Rule No. 507, which provides instructions on corporate governance and comprehensive risk management for General Fund Administrators. The regulatory project will be open for public consultation until August 22, 2024.
Legal Alert
On July 5, 2024, the Financial Market Commission updated the frequently asked questions document associated with General Rule No. 502, incorporating guidelines under which the creation and dissemination of financial and/or investment content through media and social media constitutes investment advice as regulated by the Fintech Law.
Legal Alert
2024-03-05
On January 8th, 2024, the CMF issued NCG No. 501, which establishes the minimum disclosures of the usual operating policies of publicly traded and special anonymous societies that have securities registered in the CMF Securities Registry and regulates the public disclosure of transactions with related parties.
Legal Alert
2024-02-14
On February 12th, 2024, the CMF issued NCG No. 505, which aims to refine the regulations requiring information from business groups, specifying the format for submission and publishing the information received by the CMF regarding the composition of business groups that include its supervised entities.
Legal Alert
On February 12th, 2024, the CMF issued Circular No. 2,343, which introduces adjustments to the Banks’ Information Systems Manual and Chapter 21-11 of the RAN, aiming to continuously enhance the quality of information used for the determination of systemically important banks and their capital charges.
Legal Alert
2023-11-29
The regulatory project of the Superintendence of Pensions proposes modifying the Investment Regime of Pension Funds regarding investment in alternative assets.
Legal Alert
2023-11-20
On November 20, 2023, the Financial Market Commission (CMF) has put up for consultation the regulatory project that aims to establish a new channel for the sending of information between the supervised entities and the CMF.
Legal Alert
2023-10-12
On October 10, 2023, the CMF has once again put up for consultation the regulatory project that aims to raise the standards of transparency and protection for minority shareholders regarding transactions with related parties between publicly traded corporations and their subsidiaries.
