Government announces new capital market reform focused on competitiveness and small-to-medium sized businesses (PYMES)

SANTIAGO.- The Minister of Finance, Andrés Velasco, made an announcement sharing the main content of the third capital market reform (MKIII). The reform is focused on strengthening the competitiveness of the Chilean market on both a national and international level.

“The capital market is very important if it moves fast, meaning that it constantly needs to be modernized and reformed”, Velasco stated during his participation at a finance seminar organized by Icare.

The reform that was announced is centered on 4 central concepts:  deepening the market and making it more liquid; expanding the market to allow more access for small and medium-sized businesses (PYMES); integrating the market on an international level and continuing to make ongoing improvements.

The objective of the reform, according to Velasco, is to develop the securities market in order to assure complete integration with global markets and to make Chile a financial services exporter.

Velasco indicated that the reform also seeks to “jumpstart the competitiveness of the capital market by attracting new entities and investors to generate better information and increase the supply of financial services”.