[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 4 sources · 22 days · First seen · Last updated

Chilean financial regulatory sanctions

Overview

The Chilean Financial Market Commission (CMF) has issued significant sanctions against various financial entities for regulatory violations.

In one instance, the CMF fined Banco Santander and Banco de Chile for violating Law 14.908. The banks failed to consult the National Registry of Alimony Debtors when issuing loans of 50 UF or more, neglecting the requirement to withhold up to 50% of certain credits to cover unpaid alimony. Banco Santander was fined approximately 2,656.46 UF, while Banco de Chile received a fine of 238.14 UF.

Additionally, the regulator sanctioned Asesorías e Inversiones A&C SpA approximately 25,000 UF for market manipulation. An investigation revealed the firm utilized “spoofing” tactics on the Santiago Stock Exchange between March 2022 and September 2024, executing over 34,000 fictitious orders to create false market signals and profit from artificial price movements across various stocks.

Entities

Comisión para el Mercado Financiero · Banco de Chile · Asesorías e Inversiones A&C SpA · Banco Santander · Bolsa de Comercio de Santiago

Timeline

  1. 10 days ago

    [BUSINESS] 3 sources
    Chilean regulator fines A&C SpA for market manipulation

    Chile's CMF fined Asesorías e Inversiones A&C SpA over 950 million pesos for using spoofing tactics to manipulate stock prices on the Santiago Stock Exchange.

  2. about 1 month ago

    [BUSINESS] 3 sources
    Chilean regulator fines Banco Santander and Banco de Chile

    Chile's CMF fined Banco Santander and Banco de Chile for failing to withhold funds from loans granted to alimony debtors, violating Law 14.908.

Sources

chocale.cl · elclarin.cl · finde.latercera.com · reportediario.cl