On December 1, 2025, the Financial Market Commission (“CMF”) published General Rule No. 555 (“GR”), which establishes the mechanism for submitting information related to the directors of publicly held and special corporations within the framework of Law No. 21,757 (the “Law”), whose purpose is to increase the participation of women on the boards of directors of such companies.
In particular, the GR addresses the following aspects for the implementation of the Law:
- Mandatory Reporting
A partir del 1 de enero de 2026, las sociedades indicadas deberán remitir, a través de CMF Supervisa y dentro de los 5 días hábiles siguientes a cada elección o renovación de directorio, antecedentes como la fecha de la junta de accionistas respectiva, la identificación y sexo de cada director titular y suplente y, de corresponder, las razones que justifiquen el incumplimiento de los porcentajes máximos de representación por sexo establecidos por la Ley.
Cualquier cambio posterior en la composición del directorio derivado de una vacancia deberá ser informado dentro de los 5 días hábiles siguientes a su ocurrencia.
Additionally, the GR establishes a transitional obligation: companies must report to the CMF, no later than January 31, 2026, the composition of their board of directors in force as of December 31, 2025. This initial submission will not require the inclusion of reasons for non-compliance with the gender representation percentages.
- Ajustes a la NCG N°30 y nuevas exigencias para memorias
The GR also introduces amendments to General Rule No. 30 in order to align the content of annual reports with the disclosure obligations established by the Law.
Specifically, the level of detail that companies must include regarding their boards of directors is expanded to require identification and gender of each board member, as well as a new requirement to disclose the reasons and grounds in cases where the company does not comply with the maximum gender representation percentages suggested by the Law.
These amendments will apply to annual reports corresponding to fiscal year 2026, which must be filed in 2027.
- Other Relevant Considerations
It is important to note that, in accordance with the Law, this information must also be published on the company’s institutional website, if one exists, thereby complementing its inclusion in the annual report and its submission to the CMF.
In addition, in order to support the implementation of the new disclosure regime, the CMF will maintain on its institutional website a list of publicly held and special corporations under its supervision that are legally required to submit the information mandated by the GR.
If you require additional information on this matter, you may contact Christian Schiessler (cshiesslerq@jdf.cl) and Francisca Chávez (fchavez@jdf.cl).
