Name
Global FinTech Guide
Country Name
Chile
SectionTitle
RegTech and compliance management
Body
RegTech is composed of the words “regulatory” and “technology”. It is a collective term for the application of modern technologies, to get the increasing regulation in the banking- and financial sector under control both from an IT and a legal standpoint.

Introduction

Attitude of the country towards RegTech-services

We are not aware of any noteworthy discussions on the subject.

Legal affairs  

Obligations and requirements to provide RegTech-services

There is no specific regulation regarding RegTechs in Chile. Accordingly, and apart from compliance with general rules applicable to service providers, there generally are no specific license, minimum capital, or liquidity requirements.

Additional comments regarding the legal situation for RegTech-services or what RegTech’s must be aware of in this business area

N/A.

Economic conditions

Market size for RegTech-services and biggest companies in this business area

Information regarding revenues and customers is not readily available. Notwithstanding the foregoing, this market has been developing increasingly over the years.

Additional comments regarding the economic situation for RegTech-services or what RegTech’s must be aware of in this business area

N/A.

Authors

Disclaimer

© 2022, Urenda Rencoret Orrego & Dörr. All rights reserved by Urenda Rencoret Orrego & Dörr as author and the owner of the copyright in this chapter. Urenda Rencoret Orrego & Dörr has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

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