The Chile Financial Market Commission has published its Board-approved 2026–2027 Regulatory Plan, setting out the prudential regulation and market conduct projects it intends to advance across supervised sectors. The programme focuses on updating rules to reflect legal amendments, incorporate recommendations from international organisations, and progress proposals drawn from the Commission’s Market Development Agenda. Planned work in banking includes revisions to management assessment rules to incorporate governance and recovery planning, updates to requirements for internal models used to calculate credit risk weighted assets and provisions, changes to the determination of market risk weighted assets, and a new framework for managing information and communication technologies. The plan also lists updates to regulatory information files on channel operations and complaints. Other sectoral initiatives cover savings and credit cooperatives (share reimbursement requirements and rules on establishing subsidiaries), non-bank payment issuers (rules for supplementary activities), insurance (reinsurance of life annuities abroad, sale and transfer of ownership of insurers, changes affecting investments in foreign funds and risk classification of syndicated loans, inclusive insurance, and amendments linked to the Insurance Inquiry System), and securities markets (mutual fund liquidity rules, transparency of private fund portfolios for public-fund investment, strengthened oversight of investment advisers, a framework for “mini bonds”, automatic securities registration, enhanced remote participation and voting, expanded disclosure and shareholder-meeting information requirements, updates to investor definitions and common market terms, board composition reporting, recognition of foreign central counterparties, updated chief executive definitions with reporting and disclosure requirements, and risk management updates for securities firms aligned with fintech risk management). Fintech and open finance work includes amendments to the Open Finance System framework with technical annexes, rules for complementary activities of registered financial service providers, and reporting files for crowdfunding platforms and alternative transaction systems. In parallel, the plan signals cross-sector conduct rules for how banks, insurers and asset managers must relate to clients to support conduct supervision models, and a programme to systematise CMF frameworks through new or updated compendiums and Information System Manuals. It also includes coordination initiatives on cybersecurity under Framework Law No. 21,663 with the National Cybersecurity Agency, work with the Inter-Sectoral Committee on Money Laundering and Terrorist Financing on potential requirements to identify cash depositors above CLP 1 million, and engagement with the European Banking Authority aimed at recognition of equivalence for local banking regulation.

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