On February 28th, the Financial Market Commisssion (“CMF” for its initials in Spanish) issued General Rule No. 532, which establishes the Fund Information System Manual and provides instructions for submitting information for the supervision of funds and general fund managers regulated by Law No. 20.712 (“Single Fund Law”).
The purpose of this regulation is to standardize and strengthen reporting by general fund managers to the CMF, introducing additional requirements regarding the frequency and level of detail of the information. Among the key modifications introduced by this rule is the obligation to submit information on a daily, weekly, and monthly basis, depending on the type of fund, all through the official communication and information submission channel between the CMF and its supervised entities, namely “CMF Supervisa.” Additionally, specific requirements regarding assets, liabilities, equity, expenses, and remuneration are incorporated, requiring a greater level of detail in the characterization of participants.
It is worth noting that while this measure aims to raise management standards in the Chilean financial industry by strengthening the transparency and traceability of financial information, its implementation will require operational adjustments by fund managers and advance planning to comply with the new required standards.
Furthermore, the rule introduces amendments to General Rule No. 365, establishing that when creating or modifying a fund’s internal regulations, a file containing the main variables of said regulation must be attached.
The provisions of General Rule No. 532 will take effect on December 1st, 2025.
