Chile: Economy Ministry gives input on new Competition Law proposal

Chile’s Minister for the Economy, Luis Felipe Céspedes, has presented an official comment on a proposed reform to the country’s competition laws after taking part in a session with the Senate’s Constitutional Commission. The meeting was meant to find grounds for the legislative debate in order to improve the investigation and sanction procedures against collusion and price-fixing.

The report “gathers the points of agreement between the Commission, the Public Ministry and the National Economic Prosecution (FNE), in relation to the strengthening of mechanisms for leniency agreements, while also pursuing effective prosecution of all cases of collusion.”

The report also seeks to avoid contradictory sentencing, by ensuring that any penal actions may only be initiated once the Free Competition Tribunals (TDLC) have ruled. The FNE will also be given more tools for investigating cartels and market irregularities.

The debate at the commission focused on proposed jail-time sentences and approved investigation measures in cases of collusion. The talks were based on information gathered by several organizations including the FNE and Public Ministry, who have also collaborated with their own points of view and comments on the law.

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