CMF
Catherine Tornel, the new president of Chile's Financial Market Commission (CMF), announced plans to recruit a specialized team this year to validate banks' internal credit risk models under Basel III. The move could free up to $10 billion in capital, boosting lending capacity. She made the announcement at a Clapes UC seminar at UC's main campus.
Iniulat ng AI
Pedro Pablo Larraín, president of Sartor, filed a criminal complaint against Solange Berstein, head of Chile's Financial Market Commission (CMF), for allegedly issuing a premature opinion on an ongoing sanctioning process. The legal action accuses Berstein of breaching the law by publicly commenting on Sartor AGF's infractions in an interview. This took place before the CMF board finalized fines and revoked the administrator's authorization.