CMF sanctions stockbroker for offering instruments for qualified investors to clients lacking that status

October 6, 2026 - The Board of the Financial Market Commission (CMF), through Resolution No. 10,680, sanctioned Itaú Corredores de Bolsa Limitada with a UF 90 fine for breaching Section II, Number 3, Paragraph 1 of General Rule No. 380 and General Rule No. 216.

The stockbroker offered, between November 2023 and January 2026, instruments for qualified investors to 33 clients who had not accredited said status.

These regulations aim to ensure that intermediaries offer their clients products adequate for their risk profile, which did not happen in this case.

To determine the sanction, the CMF gave special consideration to the stockbroker's cooperation.