Chief legal officer | Forum Servicios Financieros
José Ignacio Peña
Chief legal officer | Forum Servicios Financieros
Team size: Five
What are the most significant cases, projects and/or transactions that you and/or your legal team have recently been involved in?
One of our key projects has been the implementation of Chile’s Open Finance framework following the Fintech Law (Law 21.521). Our legal team has supported this by aligning regulatory obligations with internal practices, focusing on data privacy, consumer consent and interoperability. Challenges have included helping to modernise IT systems and ensuring legal compliance with the Personal Data Protection Law. We have built internal guidelines, monitored updates from regulatory authorities, and trained other teams on lawful data usage. Open Finance continues to demand legal oversight, particularly around API (application programming interface) development and cybersecurity. I am focused on building internal knowledge sharing and empowering legal team members to act as subject-matter experts, ensuring a smooth transition to this new regulatory environment.
How do you approach managing legal aspects during periods of instability or crisis to ensure the organisation’s resilience?
During economic shocks or systemic crises, we take a proactive, structured legal approach. This includes identifying legal risks across contracts and operations, updating key clauses (such as force majeure and material adverse change) and ensuring our teams are crisis-ready. We have developed clear incident notification maps outlining who to inform and when, especially in cybersecurity or regulatory matters. All crisis communications are reviewed for legal accuracy to reduce liability. Documentation is also essential; we maintain detailed logs and internal audit trails to ensure transparency. This method allows us to respond decisively and maintain organisational resilience, even under pressure, aligning legal decision-making with broader risk and governance strategies.
AI has been taken seriously as a potentially revolutionary technological change in the legal world for a number of years now. has it had a meaningful impact in how your legal team works in this time?
AI has begun to reshape our legal team’s operations. We use AI to assess the legal status of potential clients and partners, speeding up due diligence by analysing compliance and corporate records. Additionally, we have partnered with external consultants to use big data in litigation defence, helping us extract patterns from large datasets to strengthen legal arguments. While adoption is ongoing and not yet fully embedded in our workflow, we are actively working with teams across FORUM (such as IT, compliance and operations) to identify and co-develop new use cases. AI is helping us shift from reactive problem-solving to strategic, data-driven legal advisory.
What is a cause, business or otherwise, that you are passionate about? Why is this?
I care deeply about promoting diversity within the legal profession, especially when choosing external counsel. Diversity is not just ethical – it enhances decision-making by bringing varied perspectives to complex legal problems. I believe law firms should reflect the diverse society they serve. In Chile, this remains a work in progress, and I take pride in raising these conversations, even when they are uncomfortable. I have implemented diversity as a selection criterion, alongside expertise and reputation. Firms that foster inclusion often show stronger cultural health and leadership – traits we value at FORUM. As clients, we have the power to drive change, and I embrace that role.
Chief legal officer | FORUM Servicios Financieros
Chief legal officer | Forum Servicios Financieros