The Board of the Chile Financial Market Commission (CMF) sanctioned two private investment fund managers (AFIPs) for breaching ongoing disclosure obligations after failing to submit quarterly financial information on their managed funds within the required timeframe, in violation of General Rules Nos. 364 and 475. The quarterly submissions are intended to provide the CMF with updated information on private investment funds, their participants, and each fund’s assets and liabilities, supporting assessments of whether funds meet conditions that subject them to the regulatory framework used for investment fund supervision. The CMF imposed fines of UF 135 on Administradora de Proyectos Inmobiliarios S.A. and UF 150 on Administradora de Fondos de Inversión Privados Cabo Negro S.A.; the investigations were conducted under a simplified sanctioning procedure under Decree Law No. 3,538 that allows, among other things, admission of responsibility by sanctioned parties.
Chile Financial Market Commission 2025-01-03
Chile Financial Market Commission sanctions two private investment fund managers for late quarterly disclosures with UF 135 and UF 150 fines
The Chile Financial Market Commission sanctioned two private investment fund managers for failing to meet quarterly disclosure obligations, violating General Rules Nos. 364 and 475. Fines of UF 135 and UF 150 were imposed on Administradora de Proyectos Inmobiliarios S.A. and Administradora de Fondos de Inversión Privados Cabo Negro S.A., respectively. Investigations were conducted under a simplified sanctioning procedure allowing admission of responsibility.