CMF issues regulation allowing commodity exchanges to keep endorsable mortgage loans in custody and repeals requirement for local risk rating agencies to rate foreign...
The Financial Market Commission (CMF) issued today General Rule No. 497, which allows commodity exchanges to act as custodians of endorsable mortgage loans that back technical reserves and risk equity of insurance companies. Said General Rule also repeals the ownership relationship requirement for local risk rating agencies to rate foreign securities. The...
CMF releases Financial Report of the Insurance Market as of the fourth quarter of 2022
Insurance companies recorded USD 13,321 million in sales last year, a real increase of 15.3 percent compared to 2021. The Financial Market Commission (CMF) released today its Financial Report of the Insurance Market as of the fourth quarter of fiscal year 2022. Insurance companies recorded USD 13,321 million in sales last year, a...
CMF reports on the performance of supervised banks and cooperatives as of April 2023
Loans in the banking system fell 3.80 percent over 12 months due to larger contractions in the consumer and commercial portfolios. Loans in the banking system fell 3.80 percent in 12 months, higher than the 2.55-percent drop recorded March of this year, and down from the 4.35-percent increase observed in...
CMF sanctions Christian Traeger for acquiring shares while possessing inside information
The Board applied a fine of UF 1,000 for breaching the duty to refrain described in Article 165 of Law No. 18,045. This was due to acquiring shares of Clínica Las Condes S.A. while possessing inside information. The Board of the Financial Market Commission (CMF) sanctioned Christian Traeger Gimeno, director...
CMF fully suspends activities of STF Capital Corredores de Bolsa SpA and its listing in the Registry of Stockbrokers and Securities Agents
The decision stems from serious deficiencies observed in STFC's internal control and risk management system, which prevent the company from reliably complying with equity, liquidity, and solvency conditions necessary for operation of its business. STFC may not carry out transactions without prior authorization from the CMF, which may...
CMF alerts about unregulated investment platforms "Invesa Capital" and "Ascending Bull"
The Financial Market Commission (CMF) states that the entities known as "Invesa Capital" (invesacapital dot com international slash es) and "Ascending Bull" (ascendingbull dot com) are not supervised by the CMF. Before making any investment, the CMF recommends investors to always do their research on products and companies they are considering investing with by...
CMF highlights new milestone in implementation of Basel III framework with activation of Countercyclical Capital Requirement
Yesterday, the Central Bank of Chile activated the Countercyclical Capital Requirement as a precautionary measure against increased external financial uncertainty. The level and timeframe were defined with a prior favorable report from the CMF, which considered the use of the CCR as a resilience tool to be appropriate. ...
CMF moves forward with the implementation of Basel III standards with release of information on Pillar 3 requirements
This allows the market to know the risk profile of local banking institutions, their position and equity structure in better detail, enabling various market players to better analyze the information. The CMF will consolidate and publish quarterly Pillar 3 reports for each bank on its website, fulfilling one...
CMF issues regulation to include securitized loans and identify health-related loans in financial system debtor information
The regulation adds loans that supervised institutions assign or sell to securitization companies, as well as health-related obligations, to debtor information reported to the Commission. The Financial Market Commission (CMF) issued today Circular Letter No. 2,333, which amends the regulation governing information on financial system debtors that supervised institutions report to the...
CMF reports Current Interest Rates to be released on Monday, May 15
The Financial Market Commission (CMF) reports that the certificate corresponding to the Conventional Current and Maximum Interest Rates will be published this Monday, May 15, in the Official Gazette. These rates will enter into force upon that publication. According to Law No. 18.010, the Commission must publish this information both on...
CMF attended the 21st ASSAL-IAIS Conference on Insurance Regulation and Supervision in Latin America
During the meeting, Chile was ratified as one of the Vice-Presidents of the Association of Insurance Supervisors of Latin America. The Financial Market Commission (CMF) attended the 21st Conference on Insurance Regulation and Supervision in Latin America, organized by the Association of Insurance Supervisors of Latin America (ASSAL) and the International Association...
CMF reports on consulting tables process to implement Fintech Act
The Commission will hold an informative webinar on May 15 to reveal the content and organization of these consulting tables. They aim to receive feedback from interested parties and move forward with a public, transparent, and participatory regulatory development process. The Financial Market Commission (CMF) announces the start of its consulting...
Regulator Name: Commission for the Financial Market
SEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency
Coinbase also charged for the unregistered offer and sale of securities in connection with its staking-as-a-service program. The Securities and Exchange Commission today charged Coinbase, Inc.
ESMA publishes follow-up report to the peer review on the Guidelines on ETFs and other UCITS issues
See the content published by the European Securities and Markets Authority (ESMA) here: Read more
Deputy Director General Jyri Helenius assigned as Head of Director General’s Staff at Financial Supervisory Authority
The Board of the Financial Supervisory Authority (FIN-FSA) has assigned Deputy Director General Jyri Helenius to handle the duties of the Head of Director...
Novellie, Verardi & Mitchell
Published on: 05 June 2023 Designated Businesses (Registration & Oversight) Act 2015 Novellie, Verardi & Mitchell Notice is hereby given that Novellie, Verardi & Mitchell, which was registered under