Regulations under consultation CMF: Amendment to NCG 532

On October 13, 2025, the Financial Market Commission (CMF) published for public consultation the Regulatory Report introducing amendments to General Rule No. 532 of the Fund Information System Manual (the Report).

The publication is intended to solicit comments from supervised entities and the general public, which will be open until November 7, 2025. The purpose of this is to establish the reporting obligations that General Fund Administrators (AGFs) must comply with, including the submission of seven regulatory files through the CMF Supervisa channel.

The Report introduces the following main changes:

1. File FONDOS02- Derivatives: Establishes the obligation to report transactions electronically to the Central Bank of Chile through the SIID-TR.

2. File FONDOS03- Actual expenses and remuneration: The obligation to report a daily cost rate for the fund or series is established. For its part, the proposed regulation considers the submission of an annual cost rate, determined based on the sum of the expenses and costs of the fund or series in a rolling year, ending on the last day on which the information is reported, on the average accounting equity of the fund or series for that same rolling year.

3. Incorporation of single regulatory tables: These are incorporated into the “Fund Information System Manual” (“MSI”), which consists of a set of general coding tables that must be used in the preparation and submission of regulatory files.

4. New requirement regarding guarantees: The requirement to provide information regarding the constitution of fund guarantees is included in the “Fund Information System Manual.”

5. Temporary elimination of the XML file of internal regulations and technical data sheet: The obligation to submit the XML file corresponding to the main variables of the internal fund regulations at the time of deposit and the corresponding technical data sheet is suspended.

6. Update of operating instructions: The rules on the submission of the reconciliation cover sheet and the file validation process have been adjusted, reinforcing the consistency of the information reported by the AGFs.

There is an adjustment to the effective date, as it was initially scheduled to take effect in December 2025, but will now take effect in June 2026.