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The Financial Market Commission continues to monitor possible impacts on securities, insurance, and banking markets


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October 21, 2019.- The Financial Market Commission (CMF) is closely monitoring the effects that incidents in the country may have on the normal functioning of the financial system under its supervision.

The Commission has been in permanent contact with banks, insurance companies, fund managers, stock exchanges, and other market infrastructure entities, as well as other regulators and authorities, to coordinate any action necessary to ensure the proper activity of the market.

Financial institutions have implemented the contingency protocols established for these situations and have notified the Commission according to regulations.

As for the functioning of the banking system, all institutions have been required to adopt the necessary precautions and safeguards to ensure normal operation of their branches, ATMs, and electronic platforms.

Furthermore, they were instructed to duly inform their clients about the operation of banking branches, including those who were unable to operate normally due to force majeure.

Said entities have reported to this Commission that their main electronic payment systems, such as debit cards, credit cards, and electronic transfers, are operating normally.

Stock market entities and other financial markets also reported that they operated normally today.

The CMF will continue to work in full coordination with the Ministry of Finance, the Central Bank, other regulators, and the relevant authorities. It will do everything in its powers to ensure the proper functioning of the financial system and the capital market.

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This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the article here: Read more

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