The Board of the Chile Financial Market Commission (CMF) sanctioned four individuals for breaching the Securities Market Law’s prohibition on trading an issuer’s securities during the 30 days before publication of quarterly or annual financial statements. The measures related to Article 16(5) of Law No. 18,045, which applies to directors, managers, administrators and main executives of publicly offered securities issuers, as well as their spouses, domestic partners and relatives up to the second degree. The CMF imposed a UF 400 fine on María Velázquez for buying 181,203 ENTEL shares in April 2022 and selling 48,753 ENTEL shares in April 2023 during the restricted period; issued a censure to Mónica Mitarakis for indirectly buying 292,821 Conchatoro shares in April 2023; imposed a UF 500 fine on Bogdan Borkowski for indirectly selling 826,355 Soquicom shares across May 2023 and April to May 2024; and issued a censure to Fernando Pérez for acquiring and then selling 14,000 Cencosud shares in July 2022 during the restricted period.
Chile Financial Market Commission 2025-07-29
Chile Financial Market Commission sanctions four individuals for trading during the 30-day pre-financial statement blackout period
The Chile Financial Market Commission sanctioned four individuals for violating the Securities Market Law's trading restrictions before financial statement publications. María Velázquez and Bogdan Borkowski received fines of UF 400 and UF 500, respectively, for trading ENTEL and Soquicom shares during restricted periods. Mónica Mitarakis and Fernando Pérez were censured for similar violations involving Conchatoro and Cencosud shares.