The CMF has as strategic purposes to reduce information asymmetry for decision making, to raise market conduct standards, to promote an effective risk management from CMF's supervised entities, to create conditions for a greater financial inclusion, and to strengthen institutional operations.
The Financial Market Commission is a decentralized public service, of a technical nature, endowed with legal public status and its own assets, which relates to the President of the Republic through the Ministry of Finance. It is responsible for safeguarding the proper functioning, development and stability of the financial market, facilitating the participation of market agents and promoting the care of public faith; as well as safeguarding that supervised persons or entities, from their initiation until the conclusion of their winding-up, comply with laws, regulations, statues, and other provisions that regulate them.
Its mission is to promote the well-being of society, contributing to the development of the financial market and to preserve participants trust.
The CMF has a communicational policy coherent with its regulation purposes, and supervision of securities and insurance markets, assuming the need of reporting in a timely and truthful way.
With this purpose, the CMF uses as a main informative platform for supervised markets, investors, policy holders and general public its institutional website (www.cmfchile.cl). This website contains information on supervised entities, statistics, sanctions, resolutions, legislation, regulations, normative proposals in consultation, news, studies, and publications, among other topics of interest.
It also has a financial education platform "CMF Educa" (www.cmfchile.cl/educa), services and procedures platform "CMF+Cerca" (www.cmfchile.cl/mascerca), and enquiries platform about the existence of insurance policies www.conocetuseguro.cl.
Furthermore, the CMF uses the following traditional tools of external public communication channels: press releases, studies, presentations, and expositions in seminars, interviews, public statements given by authorized spokesperson, and press conferences, among others.
Additionally, the CMF is held to account for its institutional management through a participatory Annual Public Account presentation and the publication of an Annual Report.
The CMF is also subject to the provisions of Law N°20,285 of Transparency of the Public Function and Access to State Administration's Information, which defines the information that public services and bodies must keep published on their websites, and establishes the mechanism to request and access additional information. The CMF shall respond to information requests that are submitted by this mean in a maximum period of 20 working days, extendable only once, for other 10 days, exclusively in those cases where it is specifically complicated to collect the information. The answer to those requests might consist of both the delivery of information and of signing of a confidential clause, that prevents it from being disclosed.
In relation to the media, the CMF supports press work, so it is committed to answering truthfully, and as timely as possible, the legal requirements of information made by the media, always maintaining the maximum respect for its supervised persons and others, and on the condition that it is public and does not affect the independence and privacy required by its functions of oversight, supervision and regulation.
To support media's work, the CMF has an Area of Communication, Education and Image responsible for arranging and answering informative requirements made by the media or other interested parties.
The only spokesperson authorized to deliver information from the CMF to journalists and the media is the Chairman of the Financial Market Commission, who in this position, might delegate this function. This restriction has as a purpose the coherent and correct delivery of the information released by the Commission.
The CMF's officials are governed by a regulation about the duty of confidentiality. This regulation establishes that information that is non-public information, obtained by the CMF's personnel while carrying out their oversight and investigation functions, is subject to the confidentiality indicated in article 28 of Law N° 21,000, Financial Market Commission organic law. In any case, and as it is stated in the above-mentioned provision, this confidentiality duty does not prevent the Chairman of the Commission from disseminating or allowing relevant persons or media to disseminate information or documents related to supervised persons in order to safeguard the public trust or investor´s and policyholder's interests.
