Brief: Chile watchdog staff ink agreement with finance ministry

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Wednesday, February 14, 2018

The association of employees of Chile's banking sector watchdog Sbif signed a "protocol of agreement" with the finance ministry.

The document was inked as government officials draw up new staff regulations for employees of insurance and securities regulator CMF, which last month took over from SVS.

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CMF may also eventually absorb Sbif. An associated proposal forms part of a bill in congress that modifies the country's general banking law.

Any such move would require officials to put staff transfer mechanisms under the microscope so that Sbif personnel are not negatively impacted if moved over to the CMF, the finance ministry said in a statement.