On February 12, 2024, the Financial Market Commission ("CMF"), exercising its legal powers, published General Regulation No. 505 (hereinafter referred to as "NCG 505"), which establishes the duty to inform to which business group the issuing entities of securities registered in the Securities Registry, general fund administrators, portfolio administrators registered in the Portfolio Administrators Registry, pension fund administrators with securities registered in the Securities Registry, commodity brokers, banks, and administrators of assignable mortgage-backed securities belong (hereinafter referred to as the "Entities").

The purpose of NCG 505 is to refine the current regulations governing the information requirements of business groups, specifying the format for submission and publishing the information received by the CMF regarding the composition of business groups that its supervised entities are part of.

• Content of the Regulation.

To fulfill its objective, NCG 505 establishes that the Entities must inform and keep duly updated the information regarding which business group they belong to according to the terms defined in Article 96 of Law No. 18,045.

The Entities must select the business group to which they belong and enter the information about themselves through the mechanism established by the CMF for this purpose on its website. In the case of parent or controlling companies under supervision, they must create their own business group and identify those Entities that belong to their business group, whether or not supervised by the CMF. If the parent or controlling companies are not supervised by the CMF, it will be the responsibility of the Entities to create their respective group and inform and identify those companies that are part of their same business group.

It is the responsibility of each of the Entities to ensure that the group list is duly updated, informing any modifications no later than the fifth business day following the occurrence of the event that prompted the change and not creating new groups if they already exist. Such lists will be published on the CMF website, therefore, in case of any error in them, it must be corrected as soon as it is detected.

• Validity of NCG 505

NCG 505 establishes that the provisions will come into effect on May 1, 2024. However, the Entities will have a period of 20 business days from the entry into force of NCG 505 to update the initial list that the CMF will make available on its website, either by creating a group that is not included or by modifying existing ones.

For further information on this matter, please contact Christian Schiessler (cshiesslerq@jdf.cl) or Diego Miranda (dmiranda@jdf.cl)