The CMF extended by six months the deadline to implement regulatory changes related to loans granted to directors, key executives, and related parties. The measure has an immediate practical effect: it reduces short-term compliance pressure, but leaves the regulatory direction intact.
Transactions with related parties often concentrate risks of conflicts of interest, information asymmetry, and insufficient control. For this reason, the extension should be used to review credit files, approval criteria, internal limits, and reports to the board of directors. If the adjustment remains merely as a documentation modification, compliance will be fragile.
In financial entities, the actual implementation will depend on coordinating legal, risk, internal audit, and technology departments. The additional time allows for organizing that coordination, although it also leaves a clear record for the supervisor: there was time to prepare for the transition.
https://www.cmfchile.cl/portal/prensa/625/w4-article-111217.html