Chile’s Financial Market Commission (CMF) Board imposed a sanction of censure on José Antonio Labbé Valverde for breaching Article 16, Number 5 of the Securities Market Law after he sold 100,000 Empresas CMPC S.A. shares on 12 April 2023 through Asesorías e Inversiones Bogarisa Limitada within 30 days prior to the disclosure of the issuer’s financial statements. Exempt Resolution No. 533 sets out that Article 16 prohibits directors, managers, administrators and main executives of issuers of publicly offered securities, as well as their spouses, domestic partners and relatives up to the second degree of consanguinity or affinity, from directly or indirectly trading the issuer’s securities during the 30-day period before publication of quarterly or annual financial statements. The CMF found Labbé was subject to this restriction due to his status as the brother-in-law of an Empresas CMPC director.
Chile Financial Market Commission 2026-01-14
Chile Financial Market Commission censures José Antonio Labbé for selling 100,000 CMPC shares during the 30-day pre-results trading ban
Chile's Financial Market Commission (CMF) Board censured José Antonio Labbé Valverde for violating Article 16, Number 5 of the Securities Market Law by selling 100,000 Empresas CMPC S.A. shares within 30 days before the issuer's financial statement disclosure. Exempt Resolution No. 533 prohibits trading by certain individuals, including relatives of directors, during this period. Labbé was subject to this restriction as the brother-in-law of an Empresas CMPC director.