Chile's factoring industry would only become subject to official state regulation if the companies concerned were to begin to handle public funds, according to chief securities and insurance regulator Alejandro Ferreiro.
The country's factoring system remains generally unregulated, apart from instances where bank-affiliated factoring agencies are obliged to highlight company information as part of consolidated results, Ferreiro said.
Chile's factoring agencies are looking to operate under a new legal framework that ensures a level playing field for all players, said Jose Schachner, president of factoring industry association Anfac, earlier this week.
Anfac is a new association of non-bank affiliated factoring agencies. Its members have applied for further finance from the state-run industrial development organisation Corfo.
Source: BNamericas.com
