April 8, 2025 - The Financial Market Commission (CMF) announces that Commissioner Augusto Iglesias Palau took over as Deputy Chairman of the Commission after Bernardita Piedrabuena completed her term at the position. This is pursuant to the Board's Internal Operating Regulations, which state that the Deputy Chairman role rotates every 18 months with no possibility of re-election.

Augusto Iglesias has served as CMF Commissioner since October 2020. His professional career includes vast experience on matters of insurance, banking, and the securities market in both the public and private sectors. He has also participated actively in developing and implementing public policies about pensions and social security. Commissioner Iglesias has served as a consultant for international institutions; Undersecretary of the State; director of companies; researcher at the Centro de Estudios Públicos and the Institute of Economics of the Catholic University of Chile; and professor at several universities on the fields of macroeconomics, industrial organization, and labor economics.

The Board's Deputy Chairperson has among their functions representing the Commission in case the Chairperson is absent and contributing to the coordination of work carried out by the institution's different thematic committees as part of their collegiate attributions.

"It is an honor to assume this new responsibility within the Board," stated Deputy Chairman Iglesias after taking over the position. "My intention is contributing to the continuity of the work laid out by the CMF in its Strategic Plan with a long-term vision. I hope my work keeps strengthening the Commission's role as a technical, modern institution that must safeguard the proper functioning, development, and stability of the financial market."

The CMF thanks Bernardita Piedrabuena for her term as Deputy Chairwoman, which she began in October 2023 and ended on April 8, 2025.