The Chile Financial Market Commission (CMF) Board concluded its sanctioning process against Sartor Administradora General de Fondos S.A. (Sartor AGF), imposing fines and disqualifications on former directors and the former general manager for prioritising related-party interests over those of the managed funds and for providing false information to the market and the CMF. The CMF also revoked Sartor AGF’s authorisation of existence and indicated it will forward background information to the Public Prosecutor's Office. Financial penalties and five-year bans on holding directorship or executive roles in CMF-regulated entities were imposed on Pedro Pablo Larraín Mery (UF 80,000), Alfredo Harz Castro (UF 75,000), Michael Mark Clark Varela (UF 65,000), Mauro Valdés Raczynski (UF 45,000), Rodrigo Bustamante García (UF 35,000), Juan Carlos Jorquera Salhus (UF 35,000), and Óscar Ebel Sepúlveda (UF 22,500, reduced from UF 75,000 due to self-reporting). Miguel León Núñez was fined UF 10,000. The CMF found that fund resources were invested in entities linked to directors in breach of directors’ duties to act exclusively in the best interests of the funds, and that the financial statements of the Sartor Leasing and Sartor Táctico Investment Funds for 31 December 2023 and 31 March, 30 June, and 30 September 2024 did not reflect the funds’ true economic, equity, and financial position in relation to financing operations for related companies Danke, E Capital, and E Capital Leasing. Separate sanctions were also imposed on Harz, Ebel, and Bustamante for simultaneously holding roles at Sartor AGF and Sartor WM. The CMF will submit the case background to the Public Prosecutor's Office for any investigations it deems appropriate.

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