August 7
th, 2017
National Consumer Bureau (SERNAC) sues the Football Channel because of Stadium CDF signal fall
The National Consumer Bureau filed a class action lawsuit against Television Services Football Channel Limited (CDF), due to failures in the broadcast of the CDF Stadium signal, which occurred on Saturday, March 4 this year, during the football match between
Colo-Colo and
Universidad Católica.
http://www.sernac.cl/sernac-demanda-caida-senal-estadio-cdf/
August 17
th, 2017
Government reported the financing for the new National Consumer Service (SERNAC) implementation
The bill, which strengthens the institutionality of the National Consumers Bureau (SERNAC), is ready to be voted by the Senate. The Finance Commission approved and dispatched the legal initiative that, up till now, has been in Congress for more than three years. The Government introduced a new financial report which entails more than CLP25 billion to finance the so-called new SERNAC.
http://www.pulso.cl/economia-dinero/gobierno-aclara-recursos-sernac-despeja-camino-aprobacion-senado/
July 24
th, 2017
After an investigation by the National Economic Prosecutor (FNE), banks set criteria for opening checking accounts to money exchange houses and money remitters
The FNE completed an investigation that began in August 2015, based on a complaint by a brokerage house about the refusal by several banking institutions to open a checking account. During the investigation,
Banco Estado,
Santander, BCI, BBVA, Scotiabank, BICE, Security, Banco Internacional and
Itaú-CorpBanca proposed a series of measures, establishing objective, transparent and non-discriminatory requirements for the opening of currents accounts to bureau de change and money remitters. The National Prosecutor's Office deemed them sufficient and reasonable to solve the problem stated in the complaint. Hence, both exchange houses and money remitters may request from the foregoing banking institutions the necessary requirements for opening a currents account, a service that will enable them to have their business develop in a competitive way.
http://www.fne.gob.cl/2017/07/24/tras-investigacion-fne-bancos-fijan-criterios-para-abrir-cuentas-corrientes-casas-de-cambio-y-remesadoras/#more-77335
July 25
th, 2017
National Economic Prosecutor approved the concentration operation between Dow Chemical CO. and E.I Dupont
The FNE approved the merger of Dow Chemical Co. and E.I. Dupont due to the existence of potential risks in the pesticides and copolymer and ionomer acids market, disinvestment measures, such as the sale of assets (insecticides and herbicides), business units, and production facilities were offered by the parties.
http://www.fne.gob.cl/2017/07/25/fne-aprueba-fusion-de-dow-chemical-co-y-dupont-sujeta-a-medidas-de-desinversion/#more-77345
July 26
th, 2017
National Economic Prosecutor initiated a market study on the notary public sector The National Economic Prosecutor (FNE) announced an investigation on the notary market to evaluate the competitive evolution of this activity, which is currently carried out in 327 notaries headlines distributed throughout the country. According to the National Prosecutor, this is a market that appears to be highly regulated, but which exhibits several gaps that should be competitive, for which there is limited public information to assess competition level.
http://www.fne.gob.cl/2017/07/26/fiscalia-nacional-economica-inicia-estudio-de-mercado-sobre-notarios/#more-77381
August 16
th, 2017
Antitrust Court (TDLC) approved settlement agreement between the National Economic Prosecutor and Antofagasta Terminal Internacional (ATI), and shareholders
The agreement put an end to the procedure initiated by the National Economic Prosecutor, who accused non-compliance of vertical integration limits at the Antofagasta port. Certain mitigation measures where established in the agreement; for example, the appointment of an independent board member in ATI by
Punta Rieles and
SAAM Puertos.
http://www.fne.gob.cl/2017/08/16/tdlc-aprueba-acuerdo-conciliatorio-entre-la-fne-antofagasta-terminal-internacional-s-a-y-sus-accionistas-inversiones-punta-de-rieles-ltda-y-saam-puertos-s-a/#more-77512
August 5
th, 2017
Luchsinger case: Interveners reinforce the teams for the excessive trial against the 11 accused
The oral trial begins on August 21 at the Oral Court of Temuco. According to the latter court’s schedule, the trial will begin on Monday, August 21, and could be extended for 50 business days. If this schedule is fully met, the oral trial will conclude in November. The Luchsinger case deals with the murder of the couple formed by businessman Werner Luchsinger and wife, Vivianne Mackay, perpetrated by a group of strangers.
http://www.economiaynegocios.cl/noticias/noticias.asp?id=385574
August 14
th, 2017
Bribery was the crime of corruption with more accusations during 2016
According to figures that the National Prosecutor delivered to newspaper El Mercurio on account of the Transparency Law, between 2014 and 2016 there were 1,159 investigations for corruption offenses: 57.6% for bribery, 17.9% for tax fraud, and 15.7% for embezzlement. Penalties for these crimes range from a disqualification to 15-years imprisonment.
http://www.economiaynegocios.cl/noticias/noticias.asp?id=388477
August 22
nd, 2017
Constitutional Court approves the Abortion in three causes project
The Constitutional Court (TC) rejected the two requirements filed by political party
Chile Vamos, through which they sought to stop the enactment of the project that decriminalizes voluntary interruption of pregnancy under three causes: Life risk for the mother, fetal unfeasibility, and rape. In this way, the TC maintains intact the three causes promoted by the Government and approved by Congress after an extensive legislative process. However, the TC accepted the impeachment on conscientious objection.
http://www.t13.cl/noticia/politica/tribunal-constitucional-aprueba-proyecto-de-aborto-en-tres-causales
July 24
th, 2017
Public funds earmarked for venture capital total more than USD689 million since 1999
Corporación de Fomento de la Producción (CORFO, the State entity to foster production) issued a report detailing the amounts and beneficiaries of its funds in the venture capital industry between 1999 and 2016. During 17 years, it has invested more than USD689 million in 239 companies, most of them microenterprises. In recent years, the sectors most benefited have been technology, trade, and mining. The resources are delivered through credits that must be repaid to CORFO, in ten to 15 years’ terms, which have been satisfactorily fulfilled in most cases.
http://www.economiaynegocios.cl/noticias/noticias.asp?id=381795
August 22
nd, 2017
Superintendence of Pensions places in consultation a new version of the regulation that governs investments of Pension Funds and Severance in alternative assets
A legal provision regulating the investment of Pension Funds and Solidarity Aid in alternative assets is under consultation regarding vehicles for investing in foreign private capital, vehicles for investing in foreign debt, shares in closed national corporations, and mortgages loan agreement for non-residential purposes, among others. The purpose of this legal modification is to diversify investments and improve profitability, keeping risks at bay.
http://www.spensiones.cl/portal/prensa/579/w3-article-11350.html
August 13
th 2017
AES Gener and banking’s last moves to save Alto Maipo project
After AES Gener’s failed attempt to request the liquidation of
Alto Maipo project at the beginning of 2017, a second liquidation occurred on July 20, with the participation of AES Gener and the banking syndicate, which was not declared due to the bank’s flexibilization. On July 31,
Alto Maipo communicated its financial default, to which the banks announced that no more financing was to proceed. Currently, a favorable solution to
Alto Maipo is being negotiated with the banks regarding a sequential construction, which would help mitigate the risks, the investment and give a continuity signal to a potential partner or purchaser of the project.
http://www.latercera.com/noticia/las-ultimas-fichas-aes-gener-la-banca-salvar-alto-maipo/
August 16
th, 2017
Superintendency of Electricity and Fuels (SEC) sets historic fine of more than CLP9 billion to electric companies due to extensive power cuts in June
The SEC fined ten electric companies of the country for a total of CLP9.152 billion after the extensive power cut occurred due to a weather front that affected central south Chile, causing up to eight days of power supply cut in some areas. Among the fined companies, those with highest penalties were
Enel Distribución, with CLP3.262 billion, followed by CGE Metropolitan Region, with CLP2.330 billion, and CGE El Maule Region, with CLP1.864 billion. The penalized companies now have 15 business days as of the notice of the sanction to present their appeals.
http://www.revistaei.cl/2017/08/16/sec-aplica-historica-multa-de-9-152-millones-a-electricas-por-extensos-cor
August 22nd, 2017
Tax collection from green tax lower than expected
The provisions amounted by the major actors of the Chilean electric market (
AES Gener,
Colbún,
Enel Generación, and
Engie Energía Chile) corresponding to green taxes, which levies taxes on the emissions of thermal power plants (introduced by means of Law N° 29,780 of Tax Reform) amounted to USD35 million approximately, far from the target expected by the Government, of USD200 million, target which was later adjusted to USD140 million.
http://www.revistaei.cl/2017/08/22/grandes-electricas-provisionan-menos-lo-esperado-impuesto-verde-solo-us-35-millones/
July 28
th, 2017
Environmental Assessment Service (SEA) publishes a new methodological guide that regulates activities executed within citizen participation
The general objective and scope of this new methodological guide that regulates activities executed by the Environmental Assessment Service and the community, is to provide general guidelines for the development of on-site activities for citizenship participation in environmental assessment processes, consultation with indigenous peoples, meetings with groups belonging to indigenous peoples (GHPPI), analyses of projects or activities to be submitted to the Environmental Impact Assessment System due to direct involvement with GHPPI, public hearings, citizen councils, among others.
http://www.sea.gob.cl/noticias/sea-publica-la-guia-metodologica-para-la-realizacion-de-actividades-presenciales-del
August 21st, 2017
Committee of Ministers confirms its rejection to Dominga Project
The Committee of Ministers confirmed the decision of the Regional Evaluation Commission of Coquimbo regarding the adverse environmental assessment of
Dominga Project. According to the Committee's opinion, the Project presents poor information regarding its baseline, as well as mitigation and compensation measures for the significant impacts generated by the Project, especially in relevant matters such as air quality, light pollution, noise, risk of accidents and spillage in port operations and impact on flora and fauna. On the other hand, Sonami President, Diego Hernandez, said that this was a political decision without justification, since the mining project of Andes Iron fulfilled all the requirements that the environmental authority needed.
http://portal.mma.gob.cl/comite-de-ministros-confirma-rechazo-a-proyecto-minero-portuario-dominga/http://www.latercera.com/noticia/presidente-sonami-rechazo-proyecto-dominga-una-decision-politica-sin-justificacion/
August 22
nd, 2017
Environmental Courts of Valdivia and Antofagasta sign collaboration agreement
The Environmental Courts of Valdivia and Antofagasta signed a collaboration agreement for the establishment of general guidelines to achieve common objectives, concerning different subjects such as documentation system integration, access to jurisprudential bases, electronic processing, among others. The collaboration agreement will also allow the establishment of specific agreements on matters of joint work between Court officials and staff members.
https://www.rln.cl/noticias/nacional/35909-tribunales-ambientales-de-valdivia-y-antofagasta-firman-convenio-de-colaboracion
August 2
nd, 2017
Labor court declares jurisdiction to hear complaint of qualification of minimum services
The First Labor Court of Santiago held that it had jurisdiction to hear about a complaint filed by the Primary Instruction Society (SIP) on the designation of minimum services, hence modifying the standard applied by the courts until then, which avoided interference over the decisions adopted in this matter by the Labor Directorate.
http://www.prosindical.cl/tribunal-laboral-se-declara-competente-para-conocer-reclamacion-de-calificacion-de-servicios-minimos/
August 3
rd, 2017
Labor Bureau decides to settle via ruling whether automation is strike replacement
After the publication of an act by which the Labor Board of Providencia established that the automation of tasks corresponding to workers that have declared themselves on strike implied a replacement of their functions and, therefore, the configuration of an anti-union practice, the National Director of the Labor Bureau, Christian Melis, declared that the agency will clarify this matter through the emission of an administrative ruling that will be issued during the following months.
http://www.pulso.cl/economia-dinero/dt-decide-zanjar-via-dictamen-la-automatizacion-no-reemplazo-huelga/
August 17
th, 2017
The Government's pension reform project
The Government introduced a bill that intends to reform the social security, by creating a mixed system of administration of the pension funds. Within other measures, the bill pretends to increase the contributions of each worker by a 5%, which will be paid by the employers and will be administrated by a public institution referred to as the Collective Saving Council, which will allocate part of those amounts in individual saving accounts and the rest of it in a solidary fund of collective saving.
http://www.elmostrador.cl/noticias/opinion/2017/08/17/el-proyecto-de-reforma-previsional-y-el-inicio-de-la-campana-presidencial/
July 28
th, 2017
Ministry of Health promotes new labeling of medicines, which reduces brand size
The changes are in the so-called Medicines Act II, which will be discussed in late August in the Senate. The Governments’ proposal is that the name of the active ingredient of the drug predominates in the packaging and not its fantasy denomination.
http://impresa.elmercurio.com/Pages/NewsDetail.aspx?dt=2017-07-28&PaginaId=1&bodyid=3
August 10
th, 2017
Supreme Court rejects cassation appeal and confirms compensation to children of tsunami victim in Juan Fernández
The Supreme Court denied the annulment remedy filed by the Government against the Valparaíso Court of Appeal, which awarded damages to the three children of one of the victims from the 2010 tsunami in Juan Fernández, for the amount of CLP40 million each. The Court dismissed the argument stating that the absolute lack of response from the agencies in charge of warning the community about the risk of tsunami constitutes negligence under any circumstances.
Click here
August 11
th, 2017
28° Civil Court issues injunction prohibiting the dismantling of bridge arms Cau-Cau
The 28° Santiago District Civil Court declared a precautionary measure in the Cau-Cau bridge case, which prevents the decks of the bridge to be disassembled for a period of 90 days. The aforementioned considering that last July 27, the Court accepted the parties request to conduct specialized studies as evidentiary proceedings. The Court pointed out that its decks were disassembled, it would be impossible to conduct the expert’s studies, which are essential for the final judgment.
Click here
August 7
th, 2017
Mining reactivation: Investment for the next ten years will grow by 32%
According to Cochilco's annual report, mining investments for period 2017-2026 can be estimated in USD64.856 billion, which represents a 32% increase in relation to previous calculations (USD49.208 billion). Among others, the increase of mining projects to be developed in this period and rising of the price of copper explain this upturn.
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August 1
st, 2017
New Automatic Sales and Purchases Registry that will benefit over 600 thousand taxpayers begins to operate
Starting August 2017, taxpayers subject to Value Added Tax (IVA) will have access to an automatic purchase and sales registry generated by the Chilean Tax Authority (SII) with the information extracted from received electronic documents. This registry represents the first step towards enabling the new IVA statement proposal implemented by the SII.
http://www.sii.cl/noticias/2017/010817noti01er.htm
August 8
th, 2017
House of Representatives passes bill that strengthens tax justice
With a support of 101 votes, the House of Representatives approved the modifications proposed by the Senate to the bill of law that strengthens the tax and customs justice. The bill will now be remitted to the Executive for its enactment.
http://www.tta.cl/web_tta/index.php/noticias
August 18
th, 2017
The discussion regarding the mandatory use of seawater in mining operations has begun
The Mining and Energy Commission of the House of Representatives began to discuss about the bill that would make mandatory the implementation of desalination plants of seawater, on the mining operations that requires more than 300 liters of water per second on their processes.
http://www.portalminero.com/pages/viewpage.action?pageId=143622464
August 20
th, 2017
Water rights with pending auctions over the last ten years sum USD60 million and the Government is trying to accelerate auctions
There are 3,259 water rights pending for auction over the last ten years, which implies a total of 15.6 million liter per second and a sum of USD60 million, according to the information prepared by the Chilean Confederations of Channels. The Treasury is trying to accelerate the auctions.
http://impresa.elmercurio.com/Pages/NewsDetail.aspx?dt=2017-08-20&PaginaId=7&bodyid=2
August 2017