OECD Corporate Governance Factbook 2025: Chile
Table of contents
This Country Note consolidates information published in the 2025 edition of the OECD Corporate Governance Factbook. Along with the summary of recent developments, it provides an overview of Chile’s corporate governance framework and related information benchmarked against 51 other jurisdictions covered by the Factbook, including all OECD and G20 members.
The information in this document is as of 31 December 2024 unless otherwise specified.
For further details, please refer to the OECD Corporate Governance Factbook 2025.
In January 2024, the Financial Market Commission (CMF) issued General Rule (GR) 501, which sets forth the minimum information to be included in Routine Operation Policies and regulates the public disclosure of operation with third parties.
In October 2024, GR 519 amended Integrated Annual Reports regulation (see section 3), establishing the adoption of IFRS standards S1 and S2 developed by the ISSB.
Since 2023, supervised entities are gradually adopting the Integrated Annual Report format. Along with more than 70 volunteer entities, 136 entities obliged to adopt this format submitted their 2024 Annual Reports.
In March 2025, the CMF issued GR 533, which sets forth requirements and conditions for independent directors, and regulates director election policies for subsidiaries.
In 2024, the CMF issued several regulations on Corporate Governance and Risk Management: GR 502, applicable to Financial Services Providers within the purview of Law 21521 (Fintech Law); GR 507, applicable to Fund Managers; GR 528, applicable to Securities and Commodities Intermediaries.
In September 2024, the CMF published a policy paper on its mandate on Market Development. Between December 2024 and March 2025, the CMF called for a public consultation on ideas to develop the local capital market. More than 200 proposals were received (including 17 on Corporate Governance) that will be inputs to a policy paper on this topic, in 2026.
The CMF annually publishes the “Gender in the Financial System” report, which accounts for female financial inclusion and participation in leadership positions in the supervised entities.
In recent years, IPOs have been concentrated in growth companies: the segment “ScaleX” of Santiago Stock Exchange, launched in 2022, has hosted 6 IPOs.
|
No. of listed companies in Dec 2024 |
Change since Dec 2021 |
Market capitalisation in Dec 2024 |
Ratio to GDP |
||
|---|---|---|---|---|---|
|
Chile |
167 |
|
1.8% |
USD 163 bn |
49.4% |
|
OECD members |
21 618 |
|
4.3% |
USD 92 518 bn |
136.5% |
|
World |
46 086 |
|
11.3% |
USD 124 536 bn |
112.7% |
Note: “World” covers 98 jurisdictions. “OECD members” covers 38 countries.
Source: OECD Capital Market Series Dataset. IMF.
Note: “World” covers 98 jurisdictions.
Source: OECD Capital Market Series Dataset.
Note: The share of companies in each jurisdiction where the single largest shareholder and the three largest shareholders own more than 50% of the company’s equity capital. “World” covers 98 jurisdictions.
Source: OECD Capital Market Series Dataset.
* Private initiative, voluntarily developed by the involved organisations.
The categories that the jurisdiction fits into are highlighted in blue.
The bold numbers and words indicate country-specific additional information.
The numbers within parentheses indicate the number of jurisdictions applicable to each category.
For further information on the methodologies used for the categorisations, please see the OECD Corporate Governance Factbook 2025.
* Some jurisdictions belong to multiple categories because of the additional requirements other than a percentage of shareholding.
* Jurisdictions where mandatory takeover bid rules exist are included.
** Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.
** Only if it has listed equity above 1.5 million inflation linked units (USD 58 million), and at least 12.5% of its shares with voting rights are owned by shareholders who do not individually own or control more than 10% of such shares.
* Binding for board members’ policy and remunerations.
* Based on GRI, TCFD, Integrated Reporting, SASB metrics and IFRS Sustainability Standards.
* Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.
** While sustainability assurance is not mandatory, General Rule No. 30 compels supervised entities to disclose in their annual report whether ESG information has undergone independent assurance, specifying the scope of the review and the standard applied.