Tuesday February 21 2017
News Source: Global Exchanges
Focus: Stock Exchange Regulation
Type: General
It has been reported that the Chilean Congress has approved a bill which replaces the Superintendence of Securities and Insurance with the Financial Markets Commission. The bill was introduced following recommendations made by the World Bank andthe International Monetary Fund to improve Chile’s securities markets and strengthen the authority’s independence.
The commission will have the same authority in the financial and insurance markets as its predecessor, as well as improved powers, particularly regarding investigations and the application of penalties.
The bill was sent for promulgation in December 2016.
This information will be updated as soon as further details become available.