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Chile is working on legal regulations to regulate the fintech sector

In Chile, they are accelerating the development of a regulatory framework for fintech and open banking. The Ministry of Finance is advised by Rosario Celedón and Ana María Montoya, specialists in competition and financial regulation. This was reported by El Economista América.

As explained in this publication, Celedón and Montoya in formulating measures taking into account precedents in the European Community, the United Kingdom, Australia, Brazil and Mexico.

Finance Minister Ignacio Briones said: “This is the natural step after financial portability. We want to make the financial sector more competitive, encourage the provision of innovative financial services tailored to the needs of clients who will be able to better control their financial information and thereby better manage their finances, lower costs and better services ” .

About Rosario Celedón

Chile is working on legal regulations to regulate the fintech sector
Chile is working on legal regulations to regulate the fintech sector

Rosario Celedón is a lawyer at the University of Chile and a Masters in Law from the University of Berkeley, California, USA. She worked as Commissioner for the Financial Market Commission. Before that, during the first term of office of President Sebastián Piñera, she worked as a capital market coordinator in the Ministry of Finance and as chief of staff of the superintendent for securities and insurance.

About Ana María Montoya

Ana María Montoya is an industrial engineer, economist at the University of Chile and a Masters in Public Policy. He also holds a Masters Degree in Industrial Economics from Carlos III University of Madrid and a PhD in Economics from the University of Barcelona.

She is a partner and economic consultant at Butelmann y Consultores and a researcher at the Faculty of Industrial Engineering at the University of Chile. Before that he was chief economist at the National Economic Prosecutor’s Office.

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