Aggregated News From Investment Management Regulators

CMF issues regulation authorizing use of remote means to attend board meetings


Please complete the required fields.

The Financial Market Commission (CMF) has issued a regulation authorizing the use of technological means for remote participation in corporations’ board meetings. General Rule No. 450 modernizes the regulatory provisions established in 2001 through Circular Letter No. 1530, which regulated the way for directors of open corporations to attend board meetings remotely.

This regulation is especially important considering the circumstances that currently affect a large part of the Chilean population, preventing free movement and the normal holding of face-to-face meetings.

General Rule No. 450 grants a general authorization covering all technological means that comply with the conditions established in the regulation, i.e. systems that allow directors to interact in real time both simultaneously and permanently. This applies regardless of whether a physical line, radio-electricity, optical means, electromagnetic systems, or other methods of communication are used.

The regulation also refers to the duties of the board of directors, general managers, and corporations themselves. Accordingly, it outlines the corporation’s obligation to have at least one system that allows directors to exercise their right to attend board meetings remotely.

To access the details of this new regulation, interested parties can visit the Rules and Norms section of the CMF website.

Source link

Regulator Information

Recent Articles

Fraudsters Posing as Brokers or Investment Advisers – Investor Alert

The FBI Criminal Investigative Division and the United States Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) warn of fraudsters swindling investors while preten

Announcement: FMA imposes a sanction against S Immo AG for delayed publication of a proprietary transaction

The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of EUR 16,000.00 by means of a penal order under...

Origin Capital Group (clone of FCA authorised firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

Financial Stability Report (2020 annual report)​

Compliance Details javascript:commonShowModalDialog(‘{SiteUrl}/_layouts/itemexpiration.

Get the latest from Regulatory.News in your inbox!