New CMF regulations to inform business groups

On Monday, February 12, the Financial Market Commission (“CMF”) issued General Standard (“NCG”) No. 505, which establishes the obligation of different entities to submit and keep the information duly updated. with respect to the business group to which they belong, in accordance with the Securities Market Law. 

The audited entities bound by this regulation must select the business group to which they belong through the system that the CMF will establish on its website. If these entities are parent or controlling companies, they must create their business group and identify the entities that are part of it. If the parent or controlling company is not supervised by the CMF, the entities bound by said regulations will be the ones that must create the respective business group and identify the companies that are part of it.

The entities bound by this new regulation are the following: 

• • Entities issuing securities registered in the Securities Registry 
  • AGFs 
  • Administrators registered in the Registry of Portfolio Administrators 
  • AFPs that have securities registered in the Securities Registry 
  • Insurance companies 
  • Stockbrokers 
  • Securities brokers 
  • Commodity stockbrokers 
  • Banks 
  • Endorsable mortgage mutual administration agents 

The regulations will come into force as of May 1 of this year… Read more