Chile: Securities

The Chilean Government has introduced a comprehensive Capital Markets and Home Financing Reform Bill that fundamentally restructures the regulatory framework for fund management companies, including new capital requirements, the creation of investment manager roles, and enhanced operational flexibility. The proposed legislation also introduces significant tax amendments for investment fund units and establishes new mechanisms for housing finance through FONAVI funds.

Chile's Financial Market Commission has proposed consolidating regulations for Credit Rating Agencies into a single compendium, introducing significant changes to registration requirements, corporate governance standards, and information disclosure obligations.

Alternative Investment Funds Comparative Guide for the jurisdiction of Chile, check out our comparative guides section to compare across multiple countries

This article briefly describes some of the issues Chilean banks and financial supervisory authorities are facing with regard to the implementation of new capital requirements set forth by Basel III.

Milbank, Tweed, Hadley & McCloy LLP and Morales & Besa have helped Chilean retailer Cencosud make a secondary offering of common shares and American depository shares collectively worth US$458 million.

On July 27, 2016, the SVS issued the general rule 410 ("NCG 410"), which supplements the list of entities that qualify as "institutional investors" according to article 4(e) of the LMV N°18,045.