Financial market commission heralds a milestone for open finance

The Financial Market Commission of Chile issued the first comprehensive open finance regulation in the country, promising to revolutionize the Latin American financial sector by introducing a detailed framework for its operation. This regulation defines the perimeter and structure of the open finance system, establishes provisions for information exchange, and measures to ensure data quality and integrity. Additionally, it imposes high-security standards for risk management, user authentication, and business continuity.