The Board of the Chile Financial Market Commission (CMF) sanctioned Rodrigo Topelberg with a UF 5,000 fine for providing false information to the market, the public and the CMF about the financial, economic and equity position of STF Capital Corredores de Bolsa (STFCB). The misconduct related to STFCB’s financial statements as at 31 March and 30 June 2022 and its report on equity, solvency and liquidity conditions, in breach of Articles 29 and 32 of Law No. 18,045, General Rule No. 18 and Circular Letters Nos. 695 and 1,992, among other provisions. According to Exempt Resolution No. 9,169 of 2025, Topelberg, as STFCB’s indirect owner, manager and representative, made deposits into the broker’s bank account to make it appear to meet stronger equity, solvency and liquidity conditions than it actually had. Between 17 December 2021 and 30 June 2022, he executed eight wire transfers from Inversiones Tanuka Limitada to STFCB’s account before 2 p.m., which were reimbursed after 2 p.m. the same day or on the following business day. The CMF found that he did not take steps to prevent discrepancies between STFCB’s true financial position and what was reported, nor to stop the information being submitted to the regulator and the public.
Chile Financial Market Commission 2025-09-15
Chile Financial Market Commission fines Rodrigo Topelberg UF 5,000 for false reporting at STF Capital Corredores de Bolsa
The Chile Financial Market Commission fined Rodrigo Topelberg UF 5,000 for providing false information about STF Capital Corredores de Bolsa's financial position. As the indirect owner and manager, he manipulated bank deposits to falsely enhance the broker's equity, solvency, and liquidity, violating several regulations. The misconduct involved eight wire transfers between December 2021 and June 2022, which were reversed shortly after.