On January 8, 2024, the Financial Market Commission (“CMFâ€) issued General Standard (“NCGâ€) No. 501, which establishes the minimum mentions that the general policies for habitual operations must contain. of open and special corporations and regulate the dissemination to shareholders and the general public of operations with related parties (“OPRâ€) that have been carried out. The aforementioned regulations were submitted to public consultation on two occasions in 2023, prior to the issuance to the NCG.
The most relevant points and provisions of the regulations are the following:
I. General Habitual Policies
The NCG establishes that, for the purposes of open corporations and special corporations being able to hold OPR without the requirements and procedures established in sections 1) to 7) of article 147 of Law No. 18,046 on Corporations (“LSAâ€) ), they must have general habituality policies approved by their board of directors that must contemplate, at least, the following minimum matters:
