On October 14, the Central Bank of Chile issued a circular modifying the Operating Regulations of the Integrated Information System on Derivatives Transactions (SIIDCMF, for its acronym in Spanish). Access the Central Bank circular by clicking here. In addition, the Financial Markets Commission (CMF, for its acronym in Spanish) presented its new supervisory and regulatory structure.
This measure incorporates details concerning the description of certain fields regarding required information. Appointment forms are also included for the Profile Managers and Authorized Agents to submit information to the SIID.
On the other hand, the CMF announced the approval of its transition to a new organizational structure for the areas of supervision and regulation. The decision responds to the recommendations made by the International Monetary Fund which in the last quarter of 2018 provided technical advice regarding the integration of banking supervision to the CMF.
The idea is that in January 2021, the new General Directorates will materialize as part of the process to create a new organizational model including all the entity’s divisions, areas and departments, towards the end of next year.