Chilean Regulator Issues Multiple Regulatory Updates
The Financial Market Commission (CMF) of Chile published, as part of the implementation process of the Fintech Law, regulations for registration in the Registry of Financial Services Providers as well as the authorization procedure for the investment advisory services. CMF also proposed, until March 10, 2023, rules to incorporate securitized credits within the information of debtors of the financial system. The regulation modifies Chapter 18-5 of the Updated Collection of Regulations (RAN) and the instructions of the normative files, through which the reception of said information is materialized. CMF also issued a circular that details of the information that banks and cooperatives must send to CMF to adequately monitor the evolution of loans guaranteed by the Chile Apoya program, of the Guarantee Fund for Small and Medium Entrepreneurs (FOGAPE).
Keywords: Americas, Chile, Banking, Fintech Law, Regtech, Credit Risk, Lending, FOGAPE, Basel, Reporting, CMF
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