Chile’s Financial Institutions Face Increased Compliance Pressure from CMF

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Regulatory Environment Tightens in Chile

Santiago, Chile - The Comisión Para El Mercado Financiero (CMF) is stepping up its regulatory efforts to ensure the stability and integrity of financial markets in Chile. In response, Google Cloud is offering specialized training and resources designed specifically for financial institutions operating in Chile.

Compliance Requirements

According to CMF regulations, financial institutions must:

Safeguard the functioning, development, and stability of financial markets in Chile
Facilitate market agent participation
Promote public trust protection

Google Cloud has tailored its contracts with financial institutions in Chile to meet these requirements, providing a secure and reliable platform for meeting CMF standards.

Leveraging Google Cloud Services

Google Cloud has developed detailed mappings between its products - including Google Cloud and Google Workspace - to help financial institutions understand how they can leverage Google’s services to meet CMF compliance obligations. This includes addressing the requirements outlined in Chapter 20-7 of the Updated Compilation of Rules for Banks.

Key Requirements of Chapter 20-7

Business continuity
Security
Audit and due diligence

Google Cloud is committed to supporting financial institutions as they navigate these complex regulations. By leveraging Google Cloud’s expertise in compliance and risk management, financial institutions can:

Reduce their regulatory burden
Improve overall operational efficiency

Resources for CMF Compliance

For more information on CMF compliance offerings, including Chapter 20-7 guidance, financial institutions can:

Visit the Google Cloud website
Consult with a member of Google Cloud’s dedicated compliance team