On October 20, 2026, the Financial Market Commission (the “CMF”) published for public consultation a draft regulation proposing amendments to General Rule No. 532 (“NCG No. 532”), with the purpose of extending the period during which general fund managers must continue submitting information in accordance with the regulations currently in force, in parallel with the requirements established under the new Fund Information System Manual (“Fund ISM”).
NCG No. 532, issued in 2025, established a new ongoing reporting system for funds and their managers through the implementation of the Fund ISM, aimed at standardizing the manner in which fund managers periodically submit information to the CMF.
To facilitate the implementation of this new system, the regulations established a six-month transition period, ending on November 30, 2026, during which fund managers must simultaneously comply with the reporting obligations established under the Fund ISM and those set forth in Circulars No. 1333, No. 1581, No. 1603, No. 1693, No. 1782, No. 1850 and No. 1998, as well as Circular Letter No. 481 of 2005.
In this context, the draft regulation proposes extending the six-month transition period to thirteen months, maintaining the aforementioned circulars and circular letter in force until June 30, 2027.
If the proposal is approved, fund managers will be required to maintain both reporting systems until that date and, as of July 1, 2027, submit information exclusively in accordance with the Fund ISM.
According to the CMF, this amendment seeks to provide additional time to consolidate the operational processes and validation mechanisms of the new system, thereby facilitating a gradual transition toward its full implementation.
The draft regulation is available for public consultation on the CMF’s website, and interested parties may submit their comments and observations until November 2, 2026.
For further information regarding this matter, please contact Christian Schiessler (cshiesslerq@jdf.cl) or Francisca Chávez (fchavez@jdf.cl).
