Chile Financial Market Commission opens consultation on revised service externalization rules and a new ongoing provider information file

The Chile Financial Market Commission has launched a six-week consultation on proposed amendments to the Updated Compilation of Banking Regulations rules governing service externalization, alongside the creation of a new Regulatory File intended to establish an ongoing information requirement on third-party providers. The proposal would apply to banks, savings and credit cooperatives, non-banking card issuers, payment card operators, and support companies of banking activities. It would update Chapter 20-7 to reflect recent international guidance and CMF approaches used for other supervised entities, add definitions and guidance to strengthen third-party and externalization risk management across the full lifecycle, and introduce a Regulatory File in the Information Systems Manual to periodically capture information on provider registries, their activities, and incidents to support supervision. Feedback can be submitted within the six-week consultation window via the CMF website’s Regulations Under Consultation section.