A total of 45 financial system entities, including associations, experts and industry actors, presented proposals to modernize the capital market.

Workshops will be held starting on June 2025 around five priority topics: corporate governance; negotiation and market infrastructure platforms; capital market depth; financing for small-size businesses; and promotion of savings.

Both the received proposals and the workshops aim to contribute towards drafting a CMF Policy Document on Modernization of the Capital Market.

April 23, 2025 - The Financial Market Commission (CMF) announces the results of the call open between December 17, 2024 and March 21, 2025 to receive proposals with the goal of modernizing the capital market. Development of the financial market is one of the CMF's institutional mandates - along with the prudential and market conduct mandates - and aims to improve efficiency, accessibility, depth, and resilience of the financial system to promote inclusive, sustainable economic growth.

227 proposals from trade associations, experts, and diverse banks and financial institutions were received during the call. The most prominent issue was market depth with 107 proposals, followed by market infrastructure (48); financing of small-size businesses (36); promotion of savings (19); and corporate governance (17). 45 people and private sector entities participated.

This information will serve to supplement the next stage of bilateral meetings with market actors starting in April. The Commission will also organize workshops from June onwards around the issues mentioned. This effort aims to draft a Policy Document on Modernization of the Capital Market.