ANNOUNCEMENT 07 Oct 2010In October 2010, the government of Chile announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
Superintendencia de Bancos e Instituciones Financieras. (2010). Circular 3509. Available at http://www.sbif.cl/sbifweb/internet/archivos/norma_9617_1.pdf
On 7 October 2010, the bank regulator of Chile relaxed regulations on the advertisement efforts of subsidiaries of foreign banks.
Subsidiaries of foreign banks located in Chile may now advertise their credit facilities. Each advertisement must state the costs of the advertised credit program, as well as the intermediary role of the subsidiary between the interested consumer and the foreign parent company.