March 1, 2024 - The Board of the Financial Market Commission (CMF) applied fines totaling UF 1,040 and censures to eight Professional Sports Organizations (PSOs) for breaching their ongoing information duties set forth in General Rule No. 201. Said regulation states that PSOs must submit their annual financial statements before the Commission within the four-month period after the corresponding fiscal year closes. They must also send their quarterly financial statements no later than 30 days after the corresponding calendar quarter closes.

Per Exempt Resolution No. 2,005, the following sanctions were applied to entities which failed to submit their annual or quarterly financial information for years 2022 and 2023:

Imposed sanctions consider the number of infractions; opportunities for their correction; and offenders previously sanctioned by the Commission. The Exempt Resolution issued by the CMF stresses the importance of entities constituted as corporations to submit their ongoing information, which allows the Commission and the public to have information on their financial situation.