Versión en español

CMF sanctions FID Chile Seguros Generales S.A. for late submission of financial statements and not reporting deficits contained therein in a timely manner

The Board fined the company UF 250.

The Board of the Financial Market Commission (CMF) sanctioned FID Chile Seguros Generales S.A. with a fine of UF 250 for failing to report in a timely manner deficits in its financial information and the measures to solve them, as well as late submission of its financial statements.

Per Exempt Resolution No. 6,598, the sanctioned conducts infringe upon Articles 65 and 68 of Decree Law No. 251 (Insurance Law), and Circular Letters No. 662 and 2,022 issued by the CMF. Said regulations safeguard the solvency of insurance companies to ensure transparency in the financial situation of supervised entities, allowing individuals' decision making to be based on timely, reliable information. They also ensure the proper exercise of the Commission's supervisory function.

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