Board commissioners of the Chile Financial Market Commission (CMF) met with the winners of the 2025 Capital Joven Contest, an initiative run with ICARE under the CMF’s Market Development Agenda, to hear student projects aimed at improving Chile’s capital market. In the discussion, the CMF also pointed to ongoing work on a Policy Document on Capital Market Modernization. The meeting was attended by Acting CMF Chairman Augusto Iglesias, Commissioner Beltrán de Ramón and ICARE Director Renzo Corona. The winning proposals covered digital incentives to increase voluntary pension savings among young workers (first place, Karen Rodríguez), pension savings linked to consumption (second place, Enrique Zenteno), a secondary market for tokenized invoices, and systemic risk arising from access gaps in savings and credit cooperatives (joint third place teams). CMF representatives highlighted the value of participatory initiatives and financial education proposals involving universities and the private sector. The CMF’s Policy Document on Capital Market Modernization is expected to be published during the first half of 2026.

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