The collegiate body is the one in charge of the superior management of the Financial Market Commission (CMF), called Board, integrated by five commissioners appointed as detailed in the law: (i) one of the Commissioners is appointed by the President of the Republic and will have the role of Chairperson of the Commission and Service Head; and (ii) the four remaining Commissioners are appointed by the President of the Republic by means of a supreme decree through the Ministry of Finance, following ratification by the Senate.

The Law establishes that the composition of a diverse Board that balances experience and technical knowledge must be permanently ensured.

The term of office of the Chairperson of the Commission is four years, while the period of the other Commissioners is six years in their positions, being able to be reelected and are renewed in pairs every three years.

The Deputy Chairperson elected by the Board among its members, subrogates the Chairperson in case of absence or temporary inability.