CMF sanctions party for providing investment advisory services without being enrolled in the corresponding Registry

October 20, 2026 - The Board of the Financial Market Commission (CMF) sanctioned Gustavo Rodolfo Cruzat Mendoza with a fine of UF 100 for infringing Articles 5 and 14 Letter A of the Fintech Act and Section I.A of General Rule No. 502.

Per Resolution No. 11,219, Gustavo Rodolfo Cruzat Mendoza performed investment advisory services through the @patrimonialchile Instagram account without being enrolled in the Registry of Financial Services Providers managed by the Commission nor authorized to carry out this activity - which he did using social media as a broadcast platform.

Enrollment in the Registry aims to safeguard public trust and the correct functioning and suitability of parties providing these services.