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Compliance Challenges for Fintech Companies in Chile Pose a Major Concern

A new strategic alliance between Deloitte and Dentons Chile aims to provide comprehensive legal and regulatory risk advisory services to companies operating in the financial technology sector. The partnership will enable fintech companies to navigate the complexities of registering and authorizing their business models before the Financial Market Commission (CMF) with specialized advice.

Expertise and Collaboration

The agreement, signed on December 20, combines Deloitte’s expertise in consulting and Dentons Chile’s Fintech practice to provide a one-stop shop for fintech companies. This collaborative approach will help businesses operating in the sector to stay ahead of regulatory compliance requirements before the CMF.

Benefits for Fintech Companies

“We are committed to providing our clients with the best possible support to navigate the ever-changing regulatory landscape,” said Karlfranz Koehler and Ignacio Pera, Fintech leaders at Dentons Chile. The law firm has extensive experience in the field and was involved in drafting the Fintech Law.

Regulatory Context

Francisco Cabezón, Director of Risk Advisory at Deloitte, highlighted the significance of this service, noting that “the new regulatory context will be challenging for fintech companies, requiring them to operate with a different standard to ensure continuity of services and effective risk management.”

The Fintech Law

The Fintech Law creates a framework for regulating fintech companies in Chile, governing their existence and operation in the securities market and crowdfunding platforms. The law aims to establish an open finance system in the financial industry.

Impact on Fintech Companies

This strategic alliance is expected to benefit fintech companies operating in Chile, providing them with comprehensive guidance on regulatory compliance and risk management. With Deloitte’s expertise in consulting and Dentons Chile’s Fintech practice, companies can navigate the complexities of the fintech sector with confidence.

Key Takeaways

  • The partnership provides specialized advice for fintech companies to register and authorize their business models before the CMF
  • Deloitte’s expertise in consulting and Dentons Chile’s Fintech practice offer a one-stop shop for fintech companies
  • The alliance helps businesses operating in the sector stay ahead of regulatory compliance requirements before the CMF