November 28, 2024 - The Investigation Unit of the Financial Market Commission (CMF) began today an administrative sanctioning procedure and filed charges against Francisco José Coeymans Ossandón for not submitting reliable information about the financial and accounting situation of Primus Capital S.A. as of December 31, 2022.

Pursuant to Article 28 of Decree with Force of Law No. 3,538 which creates the CMF, administrative sanctioning procedures are reserved. However, the Board of the CMF used its legal powers to safeguard public trust by making the procedure and its charges public. Information gathered by the Investigation Unit and the official statement of charges will remain confidential.

The Investigation Unit filed charges against Coeymans for "providing false information to the public and the CMF by not submitting reliable information of the financial and accounting situation of Primus Capital S.A. in the annual financial statements as of December 31, 2022. This breaches Article 10 of Law No. 18,045; Article 5 Section 8 of the CMF Act; and Chapter I, Section 2.1, Subsections A.1, A.2 and A.4 of General Rule No. 30 in relation to Articles 2, 55, 58 and 59 Subsection A of Law No. 18,045."

According to the Commission's sanctioning procedure, it is now up to the Investigation Unit to begin the process under which parties with files charged against them have up to 20 business days to present information to exonerate them of or mitigate their responsibility regarding these infringements. More details on the procedure are available here.