The regulation creates CMF Supervisa, which will become the new channel to send and receive information between the Commission and supervised parties as of May 1, 2025.

It includes a new access visualization through the CMF website and will preserve all applications and modules supervised parties know and use to submit information during its early stage.

July 25, 2024 - The Financial Market Commission (CMF) issued today a regulation establishing CMF Supervisa, a new communication channel between the Commission and supervised parties which will be available as of May 1, 2025.

There are two current channels for persons and entities supervised by the CMF to send and receive information: the Online Information Submission System (SEIL, for its Spanish acronym) used by the securities and insurance market, and the Extranet used by banks and financial institutions. The new regulation establishes CMF Supervisa as a single channel to send information between supervised entities and the Commission to facilitate compliance with information requirements and provide greater fluidity in communications.

This single channel features a new access visualization through the CMF website and will maintain, it its early stage, all applications and modules supervised parties know and use to submit information, including their way of use, formats, and current validators for all information requirements.

The regulation issued modernizes and simplifies access to the communication channel. Therefore, the CMF will provide access to the system without supervised parties having to take any steps to obtain it. All additional procedures carried out until now to use both the SEIL and Extranet will be repealed as of May 1, 2025. It also establishes the obligation for supervised parties to inform and keep up to date the email addresses to which the Commission shall send official notifications, inquiries, or instructions.

Existing SEIL and Extranet users, as well as the modules to send information authorized for them, will be recognized as such in CMF Supervisa. In any case, and prior to its entry into force, a user manual for the new system will be available for supervised parties.

Finally, and to homogenize regulations among supervised parties, the regulation replaces the content of Chapter 18-10 of the Updated Compilation of Rules for Banks and refers it to the provisions set forth in General Rule No. 30 on essential and reserved facts, as well as repealing Circular Letter No. 1,737 of 2005. Said changes will become effective as of September 1, 2024.

The regulation was published for consultation between November 20, 2023 and January 4, 2024. Feedback from market participants collected during this timeframe was considered to issue the regulation.

Interested parties can check the Rules and Norms section of the CMF website to check the new regulation in detail. The CMF also makes available the corresponding Informative Brochure and FAQ Document with its core elements.