Committee Adopts Bill to Regulate Operation of Financial Markets
25 junio 2020

On June 25, the Senate Finance Committee gave its general approval to the Executive bill to regulate operations in the financial markets. The committee agreed to ask the Chamber for permission to consider it in detail, involving its study on an article-by-article basis without the need for the Chamber to approve it first.

This initiative establishes a system which would automatically register the debt securities in the Securities Registry maintained by the Financial Market Commission (CMF), for issuers already registered, and submit an application for registration.

It also seeks to incorporate the possibility that Pension Funds may invest in unregistered debt securities and increase the range within which the Central Bank of Chile sets limits for Pension Fund investments in alternative assets.

Another proposal concerns the amendments to the rules governing insurance companies, such as the idea of giving the CMF the flexibility to determine the maximum limit of financial indebtedness within a certain range.