SANTIAGO—Chile’s securities and insurance regulator, the Superintendencia de Valores y Seguros, May 25 issued rules restricting where mutual funds may invest, as well as new rules pertaining to corporate governance and reporting.
The four documents—General Norm 308 and Circulars 2023, 2024, and 2025—implement changes approved in Chile’s Third Capital Markets Reform Law No. 20,448, published last August. They will come into force July 1, except for Circular 2024, which will apply from Sept. 1.
Restrictions on Investments.
Under General Norm 308, mutual funds will be allowed to invest only in countries or regions that:
- have a regulator that is a ...
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