The Chile Financial Market Commission (CMF) issued a regulation, following a public consultation, setting the submission method for board structure information required under the More Women in Boards of Directors Act, which amended Chile’s Corporations Law for CMF-supervised open and special corporations. From January 1, 2026, corporations must submit the identification and sex of all board members. Where a corporation does not meet the Act’s suggested maximum proportion of directors of the same sex, it must also report the reasons for non-compliance, and the CMF will publish the information on its website without commenting on those reasons. The Act phases the maximum proportion of directors of the same sex at 80 percent for 2026–2028, 70 percent in a subsequent phase starting in 2029, and 60 percent in 2032. Corporations must submit information on their current board structure through CMF Supervisa no later than January 31, 2026, and the CMF will publish a list of supervised open and special corporations that are subject to the reporting requirement.
Chile Financial Market Commission 2025-12-02
Chile Financial Market Commission issues board composition reporting rules under More Women in Boards of Directors Act
The Chile Financial Market Commission (CMF) issued a regulation on submitting board structure information under the More Women in Boards of Directors Act. From January 1, 2026, corporations must report the identification and sex of all board members. If they exceed the Act's suggested maximum proportion of directors of the same sex, they must provide reasons for non-compliance. The Act phases in maximum proportions, starting at 80% for 2026–2028, decreasing to 70% in 2029, and 60% in 2032.