NCG 559 came into effect on February 9, 2026, meaning that entities already providing these services must report by April 30, 2026, at the latest.
On February 9, 2026, the Financial Market Commission (CMF) issued General Regulation No. 559 (NCG 559), which incorporates a new Chapter X into NCG No. 502, specifying the duty to report the commencement of the provision of certain services regulated by Law No. 21,521 (Fintec Law) by entities already under supervision.
The Fintec Law provides that certain entities supervised by the CMF may provide the services regulated in Article 5 without requiring registration in the Registry of Financial Service Providers.
NCG 559 specifies that, despite this exemption, these entities must notify the CMF in advance, through the CMF Supervisa platform, of the commencement of the provision of such services, identifying them specifically.
The regulation expressly establishes that this notification:
- Must be made prior to the commencement of the provision of services.
- Does not require prior authorization from the CMF.
- Does not imply registration in the Fintec Registry.
The obligation applies, among others, to:
- Securities brokers.
- Stock exchanges and commodity brokers.
- General fund managers.
- Portfolio managers.
- Insurance and reinsurance companies.
- Credit rating agencies.
- Securities depository and custody companies.
The services covered include, as applicable, activities such as:
- Crowdfunding platforms.
- Alternative transaction systems.
- Order routing.
- Intermediation of financial instruments.
- Investment advice.
- Custody of financial instruments.
- Credit advice.
With regard to banks, the provision of the services indicated in paragraph 7 of the second section of Article 5 of the Fintec Law shall be subject to the specific regulations issued by the CMF for such purposes.
Until such regulations are issued, banking entities may not provide these services, except for those already authorized under previous legislation.
NCG 559 came into force on February 9, 2026. Therefore, entities that, on the date of its publication, were already providing any of the services covered must report by April 30, 2026, at the latest, identifying precisely the services they were providing.
NCG 559 does not introduce new regulated activities, but it does strengthen the supervisory framework applicable to traditional entities that provide services covered by the Fintec Law.
From a practical perspective, the rule requires regulated entities to review their current business lines and ongoing projects to determine whether prior notification to the CMF is required, as well as to adjust their internal regulatory compliance procedures.
If you have any questions about the scope of this regulation and its implications, please contact our Corporate and Business team:
Álvaro Rosenblut | Partner | arosenblut@az.cl
Stephanie Cruz | Legal & Business Director | scruz@az.cl
Vicente Martínez | Senior Associate | vmartinezw@az.cl
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