Chile's National Economic Prosecutor's Office
Tuesday, 15 June 2010
Featured In: Rating Enforcement 2010
Chile's Competition Act underwent significant amendments in 2009, which have helped put the National Economic Prosecutor's Office on an upward trajectory, according to local practitioners.
The office gained new enforcement tools last October, including the power to conduct dawn raids, obtain warrants for intercepting communications, and search and seize properties. A leniency programme was also introduced to the regime. The revised law confirmed that individuals can be held accountable for competition violations and fined accordingly, and also extends the limitation period within which cartelists can be fined from two to five years. The authority says that these amendments have radically enhanced the office's investigative tools, particularly for cartel prosecution. The maximum fine the country's Competition Tribunal can now impose in cartel cases has increased from €11.8 million to €18 million. The office is in charge of the investigation and the prosecution, but does not make decisions. That responsibility falls to the tribunal.
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