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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.