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Chile: Authorities discuss Competition Defense

By  |  September 13, 2016
Chile: Authorities discuss Competition Defense

Enrique Vergara, President of Chile’s Tribunal for the Defense of Free Competition (TDLC), spoke during a conference at the Universidad de Chile Law School, stating that Chile has seen a long-standing cultural change towards granting greater importance to strong institutions and the adoption of best practices in all sectors. The minister recalled the recent reforms to the country’s competition law, which installed the TDLC only years before detecting the infamous ‘Pharmacy Cartel’. With him, several authorities, academics and legislators expounded on the subject of competition law and defense.

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    “We must remember that the improvement of the system is an ongoing process. One has to review the international experience from all countries. Even the most advanced jurisdictions are constantly perfecting their system for safeguarding competition by switching their institutional design or introducing new faculties. In Chile these are not just hot-headed reactions to iconic cases that ignite public opinion” said Vergara.

    Following this, Mr. Vergara’s counterpart at the National Economic Prosecution (FNE), Felipe Irrarázaval, spoke of the variety of instruments and documents being developed as guides – including the recently-adopted concept of Leniency Programs. “There are several challenges to applying this law, and we must be efficient in our list of priorities. We believe that the issue of interlocking is not a major concern. There are other guides we are developing, such as the rules on economic mergers which determine what deals must be notified, and the ranges to identify them. We have developed methodologies according to International standards.”

    Full Content: Radio U Chile

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