Within the framework of the implementation of the Fintec Law, the Commission for the Financial Market (“CMF”) issued General Standards (“NCG”) No. 502 and No. 503, which imply important changes for service providers. financial matters regarding registration, authorization and accreditation.Â
NCG N°502 , which replaces NCG N°493 and N°494, regulates the registration, authorization and obligations of financial service providers and establishes the requirements applicable to each of the  types of services established in the law : crowdfunding platforms, alternative transaction systems, credit advice, investment advice, custody of financial instruments, order routing and intermediation of financial instruments.
These requirements cover the following matters :
to. Registration in the Registry of Financial Services Providers.
b. Authorization for the provision of regulated services.
c. Obligations of disclosure and delivery of information to clients and the general public.
d. Corporate governance and risk management requirements.
and. Capital requirements and guarantees.
F. Accreditation of operational capacity.
g. Activities inherent to regulated services.
Investment advisory service providers must request registration and authorization before February 3, 2024 . The rest of the Fintec service providers must request registration and authorization for the activities they are carrying out, before February 3, 2025.
