Chile Financial Market Commission requires traditional providers to notify Fintech Act services before launch and sets April 30, 2026 deadline for existing activity

The Chile Financial Market Commission (CMF) issued General Rule No. 559 amending General Rule No. 502 to clarify the information duty for traditional financial providers that are authorised to offer services regulated by Law No. 21,521 (the Fintech Act) without being enrolled in the Registry of Financial Services Providers. These entities must inform the CMF, via the CMF Supervisa platform, before starting to provide the relevant services and must specify which services will be offered. The reporting requirement applies to securities intermediaries and commodity exchange brokers for crowdfunding platforms, alternate transaction systems, order rerouting, intermediation of financial instruments, investment advisory, and custody of financial instruments. It applies to commodity exchanges for crowdfunding platforms, alternate transaction systems, and custody of financial instruments; to general fund managers for order rerouting and investment advisory; to portfolio managers and to insurance and reinsurance companies for investment advisory; to risk rating entities for credit advisory; and to securities deposit and custody entities for custody of financial instruments. Entities already providing any of the covered services must submit the notification no later than April 30, 2026. For banks, the provision of services referred to in Article 5, Number 7, Section 2 of the Fintech Act will be subject to specific CMF regulations and banks may not provide these services until those rules are issued, unless the services were authorised by legislation predating the Fintech Act.