December 15, 2023 - As part of the implementation of Law No. 21,521, also known as the Fintech Act, the Financial Market Commission (CMF) published for consultation today a regulatory proposal which completes the regulation for Fintech service providers under consultation between October 16 and November 10, 2023.

Said proposal consolidated in a single text the instructions on enrollment in the Registry of Financial Services Providers; authorization to provide regulated services; obligations to disclose and deliver information to their clients and the public at large; requirements on corporate governance and integral risk management; requirements on corporate risk management; and capital requirements and collaterals.

As a continuation of this initiative, the new proposal under consultation completes this regulation by adding requirements to prove operational capacity for entities which provide services such as alternative transaction systems, intermediation of financial instruments, order rerouting, and custody of financial instruments.

Interested parties can access the Draft Rules & Norms section of the CMF website until December 29, 2023 to check the regulatory proposal in detail and submit their feedback. The Commission also makes available the corresponding Presentation, Informative Brochure, and FAQ Document with its core elements.

More information about the implementation of the Fintech Act is available in a special section of the CMF website.