Minutes from a meeting of the Financial Market Commission (CMF) reveal that commissioners Beltrán de Ramón and Bernardita Piedrabuena expressed disagreement with President Catherine Tornel's decision to dismiss three top executives from the institution.
The extraordinary session, convened by Tornel on March 19, detailed the removal of Daniel García, General Director of Market Conduct Supervision; Nancy Silva, General Director of Studies; and José Antonio Gaspar, General Legal Director.
According to a report by latercera.com, the president justified the move by citing the need for a change in leadership and focus to address institutional challenges, arguing that her experience within the agency provided her with a well-founded perspective on the management of these departments.
Tensions over technical autonomy
Commissioner Beltrán de Ramón expressed his opposition to the dismissals, noting that the directors had performed outstanding work in advising the commission. De Ramón warned that implementing a reshuffle of this magnitude amidst a change in the government's political direction could be interpreted as damaging to the CMF's technical autonomy.
Commissioner Bernardita Piedrabuena agreed, stating that the directors had carried out their duties with professionalism and ethics. Piedrabuena warned that the departure of these three leaders, coupled with potential changes in other areas, creates an atmosphere of uncertainty that could undermine the institution's effectiveness.
The document also highlights the stance of commissioner Augusto Iglesias, who requested that his detailed opinion not be included in the official minutes. Nevertheless, the latercera.com report indicates that the three commissioners present were opposed to the removals.
Tornel's decision came just eight days after she assumed the presidency of the CMF, following her appointment by the José Antonio Kast administration to replace Solange Berstein. The CMF is currently seeking a replacement for the legal director position through a public competition, with the expectation of appointing a new head by the end of April.
