On February 28, 2025, the Financial Market Commission ("CMF" or the "Commission") issued General Rule No. 532 ("NCG 532" or the "Regulation"), which governs the content and format in which fund management companies ("AGF") must submit certain information for supervision purposes, both for themselves and the funds under their administration. Additionally, it introduces amendments to General Rule No. 365 ("NCG 365") and repeals or modifies other regulatory provisions.
- Content of the Regulation
NCG 532 aims to standardize the AGFs’ information reporting system by creating the Fund Information System Manual ("MSI de Fondos"), which establishes general guidelines for information submission. It also details the files that must be submitted periodically through the official communication channel between regulated entities and the CMF, specifying the content and deadlines based on the type of fund:
- FONDOS02: Investment portfolio of funds for derivative contract instruments.
- FONDOS02: Cartera de inversión de los fondos para instrumentos de contratos derivados.
- FONDOS03: General information on expenses and actual remunerations.
- FONDOS04: Breakdown of expenses and actual remunerations for mutual funds and redeemable investment funds.
- FONDOS05: Daily assets, liabilities, and equity of the funds.
- FONDOS06: Characterization of fund participants.
- FONDOS07: Information on capital reductions for non-redeemable investment funds.
Additionally, the Regulation requires AGFs to submit information on established or updated guarantees for each fund. It also introduces amendments to NCG 365, requiring that when filing a new internal regulation or modifying an existing one, a file containing the key variables of said regulation must be attached.
- Effective Date of the Regulation
NCG 532 will come into effect on December 1, 2025. However, the information submission obligations established in the repealed regulations will remain in force for six months following the Regulation’s effective date.
If you require additional information on this matter, you may contact Christian Schiessler (cshiesslerq@jdf.cl) and Francisca Chávez (fchavez@jdf.cl).
