CMF publishes for consultation regulatory proposal to facilitate fulfillment of legal obligation of entities that transfer assets to Fire Brigades
The CMF publishes for consultation a proposal that establishes a free, widespread mechanism for supervised entities to check whether the holders of certain assets are deceased, facilitating the legal obligation of transferring said unclaimed assets to the Chilean National Fire Brigade Board.
July 31, 2026 - The Financial Market Commission (CMF) published for consultation today a regulatory proposal to facilitate the fulfillment of the legal obligation of certain supervised entities to transfer to the Chilean National Fire Brigade Board (CNFBB) assets unclaimed by their holders or, in case they are deceased, by their heirs or legatees pursuant to the law.
The proposal involves the implementation of a widespread, free mechanism allowing supervised entities subject to this obligation - as established in the Law on Corporations, the Single Fund Act, and the General Banking Act - to consult the Civil Registry and Identification Service to determine whether the holders of certain assets are deceased, thereby providing them with a tool that contributes to the proper fulfillment of this legal obligation.
Under this system, supervised entities may submit to the CMF the National ID Numbers of account holders whose status they need to verify, so that the CMF can conduct a bulk query of the Civil Registry and Identification Service's databases and make the corresponding information available to these entities.
This mechanism aims to reduce costs and time associated with verifying this information, facilitating compliance with legal obligations of supervised entities, and helping ensure that funds reach the CNFBB in a timelier manner.
The regulatory proposal is available in the Regulations under Consultation section of the CMF website.