Chile Financial Market Commission files prosecutor complaint against Northern Trust SpA for allegedly impersonating supervision and marketing investments via social media

The Chile Financial Market Commission (CMF) announced that its Board has decided to file a complaint with the Public Prosecutor’s Office against Northern Trust SpA (NTSpA) after identifying that it allegedly misrepresented itself as being supervised by the CMF while offering investments through messaging apps and social media. The CMF’s Investigation Unit found that NTSpA was providing investment advisory services without being registered or authorised and was promoting participation in an alleged investment fund purportedly under the supervision and management of the CMF and the Central Bank of Chile. The complaint targets any responsible parties for alleged fraud, falsification of public instrument, and falsification of seals and stamps, and covers the use of the names “Northern Trust Company” and “North Trust Company”. The CMF stated that these entities operated via WhatsApp and Instagram and impersonated the North America-based multinational financial services company Northern Trust. The decision follows the CMF’s earlier action on 21 August 2025 adding the entity to its list of investment platforms not under CMF supervision and to its public alerts list, and it reiterated that users can check the CMF’s Fraud Alerts page to verify whether an entity is supervised and to review alerts on unregulated activities.