January 14, 2025 - The Financial Market Commission (CMF) filed charges before the Public Prosecutor's Office against any responsible parties for disclosing background information on the sanctioning procedure conducted by the Investigation Unit about the Structured Capital I investment fund, which is managed by Larraín Vial Activos Administradora General de Fondos.

The Board of the Commission made use of its legal powers on October 21, 2024 to make this sanctioning procedure public with the aim of safeguarding public trust and investors' interests. As stated back then, information gathered by the Investigation Unit and the official statement of charges remained confidential.

Pursuant to Decree with Force of Law No. 3,538 (the CMF Act), sanctioning procedures are reserved, and all involved parties are mandated to respect their duty of not disclosing any information they access during the procedure's timeframe to prevent its dissemination. Such disclosures are a criminal offense sanctioned with a fine of 6 to 10 monthly tax units and minimum- to medium-degree imprisonment.

Despite an existing non-disclosure duty, the Board of the CMF can decide to make public information and documentation on supervised parties with the aim of protecting public trust, and the interests of shareholders, investors, depositors and policyholders. Said attribution is stated in Article 28 of the CMF Act and was executed, as stated earlier, on October 21, 2024.

An article containing details of some presentations made during the sanctioning procedure appeared in the press on January 8, 2025, and its dissemination may constitute a criminal offense.

The Public Prosecutor's Office is now in charge of investigating and clarifying the facts reported by the CMF. This is the third complaint the Commission files regarding the sanctioning procedure, with the others submitted on October 25 and December 27, 2024.