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CMF sanctions Euroamérica Seguros de Vida S.A. for defects contained in its financial statements

The Board fined the company UF 100.

October 2, 2023 - The Board Financial Market Commission (CMF) sanctioned Euroamérica Seguros de Vida S.A. with a fine of UF 100 for infringing regulations on the submission of financial information to the CMF.

Per Exempt Resolution No. 7,047, Euroamérica failed to report several transactions with related parties in Note 49 of its financial statements, and did not adequately disclose information on certain non-housing real estate leased to persons linked to the company. The Resolution stresses the importance of complying with regulations related to financial information insurance companies must report to the Commission, which directly impacts the reliability of information available to the financial market.

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