The snatches of the opposition for allegations of silver triangulation in AFP Habitat and the possible linkage that these events could have with the President of the Republic Sebastián Piñera, adds a new chapter with the presentation of the bench of members of the Socialist Party to the Commission for the Financial Market (CMF) of a request with a series of audit actions.
During the week, in the Chamber of Deputies they approved quoting a special session to review the issue and some opposition parliamentarians do not rule out an investigative committee to deepen the issue.
The controversy erupted from the background arising around the possible triangulation of money between AFPs, market fund management companies and other types of companies, regarding afps’ ban on investing, directly or indirectly, in AFPs themselves.
Specifically, all part of a complaint by the founder of the unregulated planned advisory firm Felices y Forrados, Gino Lorenzini, who noted that the AFP Habitat would invest the pension funds of its affiliates in Moneda Asset, then Moneda Asset invests them in Investments the Construction (ILC), and ILC owns Habitat by a percentage close to 40%. According to Lorenzini, there have been illegal “triangulations” for years between these agents and the Piñera family, including President Sebastián Piñera and his brother, José Piñera.
It should be recalled that in this controversy, the Superintendency “categorically” was “categorically” through a statement “irregularities in the additional audit process that, in a timely manner, carried out in July 2019 with respect to the investments made by AFP Habitat in funds administered by the AGF Moneda Asset, an investigation that concluded in the absence of violations of current regulations”.
In turn, the Minister of Labour, María José Zaldívar, said that “this is a rather old complaint that the Superintendency of Pensions at the time analyzed, reviewed, investigated and concluded that there was absolutely nothing irregular”.
Six audit actions
In their request to the CMF, the Socialist Members point to the investment decisions of AFP Habitat S.A. and their compatibility with the veracity duties of the stock market and the duties of abstention for the use of inside information, as well as with regard to companies with indirect relationships.
In their request, parliamentarians ask for 6 audit actions: to determine whether there is a history of disclosure of insider information relating to investment decisions, specifically in the operations of the Pension Fund Manager Habitat S.A., in relation to the Investment Fund Manager Moneda ASSET S.A., inversiones la Construcción S.A:(ILC), “Inversiones Previsionales Dos SpA” and the company “Inversiones Previsionales Chile SpA” ; request from the Santiago Stock Exchange and Electronic Exchange information on the buying and/or selling operations of the companies “Moneda ASSEt S.A” and “Inversiones la Construcción S.A.” (ILC), between 2010 and 2020.
In addition, they require you to request information on buying and/or selling transactions from the Santiago Trade Exchange and Electronic Exchange, made by “Two SpA Forecast Investments” and the company “Chile SpA Forecast Investments”, directly or through securities broker or brokers.
They also request a report on public offering of shares made by “Inversiones la Construcción S.A.”, between 2010 and 2020; and a report on Public Offering of shares carried out by “AFP Habitat S.A.”, between 2010 and 2020.
Finally, the bank asked the CMF to request the Central Securities Deposit (DCV) to indicate whether there is a history of shares in the name or on behalf of “Inversiones la Construcción S.A.”, and information on the transfer, transfer or tradition of those shares from 2012 to 2020.
The appeal is signed by Deputies Luis Rocafull, Juan Santana, Jenny Alvarez, Daniella Cicardini, Fidel Espinoza, Maya Fernández, Marcos Ilabaca, Raúl Leiva, Manuel Monsalve, Jaime Naranjo, Emilia Nuyado, Gastón Saavedra, Raúl Saldívar, Marcelo Schilling, Leo Soto and Jaime Tohá.