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CMF suspends activities of Factop Corredores de Bolsa de Productos S.A. for relevant equity-related liabilities not acknowledged in its financial statements

August 10, 2023 - The Board of the Financial Market Commission (CMF) suspended the activities of Factop Corredores de Bolsa de Productos S.A. According to Exempt Resolution No. 5,783, Factop did not acknowledge a relevant equity-related liability, preventing the Commission and the public from knowing its financial situation. Had that liability been reported, the company would have registered negative equity.

This is a grave, urgent situation since the broker is failing to comply with necessary conditions for the proper development of its business. To protect investors and the public interest, the Commission decreed a temporary suspension of Factop's activities as prescribed in Article 20, Paragraph 12 of Decree Law No. 3,538. The company will not be able to carry out operations regarding its line of business, nor carry out new operations that imply the temporary or permanent holding of clients' assets.

The suspension will remain in force until Factop acknowledges the liability in its financial statements and certifies a net worth allowing it to operate.

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