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    CMF Revamps Organizational Structure for Regulation and Supervision

    March 01, 2021

    CMF launched a new organizational structure for the regulation and supervision of entities. As communicated by CMF in October 2020, the new "Twin Peaks" regulatory model is based on two pillars: prudential and market conduct. For the prudential pillar, two new Directorates have been created—one for prudential supervision and the other for prudential regulation. Along with this, CMF also has a new, revamped website to facilitate access and information for users, auditors, and general public.

    The changed structure is aimed at strengthening the supervision and regulation of CMF and its capacity to safeguard the solvency of financial intermediaries. The change also seeks to strengthen the capacity of CMF for analysis and delivery of information to the public. The new structure is consistent with the objectives set by CMF in its 2020-2022 Strategic Plan, which contemplates the execution of 32 strategic initiatives in this period in the areas of regulation, supervision, sanctioning procedure, and institutional development. The launch of the new structure represents one of the main milestones in the institutional consolidation process of CMF, which began on June 01, 2019 after its integration with the former Superintendent of Banks and Financial Institutions (SBIF).

     

    Related Link: Press Release (in Spanish)

     

    Keywords: Americas, Chile, Banking, Insurance, Securities, Banking Supervision, Organizational Restructuring, CMF

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