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Firm: Carey

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“Pro Consumer" Bill that Amends the Consumer Protection Act Moves Forward, After Being Approved by the Chamber of Deputies
Carey, July 2021

On January 24th, 2019, the Executive Power submitted to Congress a bill of law that establishes measures to encourage the protection of consumers' rights -Bulletin No. 12,409-03- (hereinafter, the "Bill"). The Bill is known as the "Pro-Consumer Bill", since it amends Law No. 19,496 Consumer Protection Act ("CPA"), seeking to reinforce the rights of consumers and incorporate new obligations for suppliers...

FMC and Superintendence of Pensions Publish, for Public Consultation, New Joint Regulation on Social Security Financial Advisory
Carey, July 2021

Considering the recent amendments on social security matters introduced by law 21,314 -especially those set through its article 4- on June 25, 2021, the Financial Market Commission (“ FMC ”) and the Superintendence of Pensions (“ SP ”) opened a public consultation process on a new regulation, to rule social security financial advisory (the “ Regulatory Proposal ”)...

Law N°21.248 Priorizes Human Consumption of Water in State of Catastrophe
Carey, July 2021

On June 17, 2021, Law 21,348 (hereinafter, the " Law ") was published in the Official Gazette, the purpose of which is to legally guide the powers of the President of the Republic (hereinafter, the " President ") regarding the state of constitutional exception of catastrophe due to public calamity, in order to guarantee, in situations of pandemic, health crisis and natural disasters, the access and availability in sufficient quantities of water to the affected population...

Chilean Central Bank Launches Public Consultation on Proposed Amendments to Chapters III.B.1 and III.D.1 of the Compendium of Financial Regulations
Carey, July 2021

On June 29, 2021, the Central Bank, pursuant to the resolution reached by its Board in the meeting held on June 24, 2021, launched a public consultation on proposed amendments to Chapters III.B.1 and III.D.1 of the Compendium of Financial Regulations (“CFR”)...

National Electric Coordinator Opens a Public Consultation Process to Set Criteria for the Application of the Open Access Regime
Carey, June 2021

On June 9, 2021, the National Electric Coordinator (“CEN”) opened a public consultation process on  a draft Internal Procedure (the "IP") that will provide the criteria applicable to the Open Access Regime established in Articles 79° and 80° of the General Law of Electric Services ("LGSE"), as a result of the entry into force of the Regulation on Transmission Systems and Transmission Planning (the "Regulation")...

Law No. 21,353 Establishes New Tax Measures for Micro, Small and Medium-Sized Companies
Carey, June 2021

On June 17, 2021, the Law No. 21,353 was published, which contemplates the following new tax measures to support micro, small and medium-sized companies in the context of the crisis generated by Covid-19: Temporary reduction of the penal interest rate for SMEs from 1.5% to 0%, for each month or fraction of a month, in case of default in the payment of all or part of any kind of taxes and contributions due...

Congress Approves Bill that Contemplates New Tax Measures for Micro, Small and Medium-Sized Companies
Carey, June 2021

On June 10, 2021, the National Congress approved the bill that establishes new tax measures to support micro, small and medium-sized companies in the context of the crisis generated by Covid-19. The bill, which is awaiting the final formalities of enactment and publication, includes the following tax measures: Temporary reduction of the penal interest rate for SMEs from 1...

Benefits of the Employment Protection Law and Law that Makes the Requirements for Access to Unemployment Insurance More Flexible are Extended
Carey, June 2021

On June 2nd, 2021, Decree No.930 of the Ministry of Finance (hereinafter, the “Decree”) was published in the Official Gazette, which extends the enforcement of the benefits established in title I of Law No.21,227 (“Employment Protection Act”) and in Law No.21,263 (that temporarily amends the requirements to access and increases the amounts of the benefits of the unemployment insurance), granting new provisions with charge to the unemployment mutual aid fund...

Batteries and Electrical and Electronic Devices: The Ministry of the Environment Initiates the Process of Drafting the Supreme Decree that will Set Forth…
Carey, June 2021

On May 28, 2021, Exempt Resolution No. 310, dated April 16, 2021 of the Ministry of the Environment was published in the Official Gazette. By means of such resolution, the Ministry of the Environment initiates the process of drafting the Supreme Decree that will set forth collection and recovery goals and other related obligations for batteries and electrical and electronic devices. Regulated priority products: "Batteries" and "Electrical and Electronic devices"...

Law of Safe Return to Presential Work is Published
Carey, June 2021

On June 1st, 2021, the Law No. 21,342 (hereinafter, the “Law”) was published in the Official Gazette, establishing protocols for occupational health safety and a mandatory health insurance for safe, gradual return to presential work. The above, in the context of the health alert caused by the Covid-19 disease in Chile...

Chilean Labor Board Publishes Electronic Remuneration Book
Carey, May 2021

Effective March 15th, 2021, the Electronic Remuneration Book (hereinafter "ERB") is available on the Labor Board's platform. The ERB is intended for employers to report, in a standardized and monthly manner, the payment of remunerations made to their employees. The regulation of the new ERB is contained mainly in the Labor Board’s Ruling No...

Law No. 21,327 on the Modernization of the Labor Board (Dirección del Trabajo)
Carey, May 2021

On April 30th, 2021, Law No. 21,327 (hereinafter, the "Act ") was published in the Official Gazette. Its purpose is to modernize the Labor Board (the "LB" or the "Service") and itwill become effective as of October 1st, 2021...

Law No. 21,320 Amends the Chilean Consumer Protection Act on Extrajudicial Collection Proceedings
Carey, May 2021

On April 20, 2021, Law No. 21,320 (the “ Law ”), which amends Law No. 19,496 on Chilean Consumer Protection Act (“ CPA ”) regarding extrajudicial collection proceedings and other consumers' rights was published in the official gazette. The Law, which shall be effective immediately, introduced several amendments to the CPA, regarding new principles that will inform the extrajudicial collection proceedings, new duties and legal limitations to suppliers...

New Information Requirement for Producers of Priority Products in the Context of the EPR Law
Carey, May 2021

By means of Resolution No. 375 , dated May 3, 2021, the Ministry of the Environment has instructed a new information request for producers of priority products, in the context of Law No. 20,920 on Waste Management, Extended Producer Responsibility and Recycling Promotion ( "EPR Law")...

Project that Modifies the Industrial Property Law in Chile is approved by Congress
Carey, May 2021

With the purpose of improving the Industrial Property system in Chile, in July 2018, the Government entered a bill that sought to partially modify Law No. 19,039 on Industrial Property and Law No. 20,524, which creates the National Institute of Industrial Property (the “ Project ”). After overcoming several stages, Congress communicated its definitive approval of the Project on April 20 th , 2021...

FMC Amends Regulation on Checks and Banking Checking Accounts
Carey, April 2021

Considering the increasing disuse of the check as payment method, from January 11 to January 29, 2021, the Financial Market Commission (“ FMC ”) kept opened a public consultation process on an amendment to Chapter 2-2 of its Updated Regulations Compendium, to allow banks to offer checkless checking accounts to the general public...

New Tax Measures to Mitigate the Impact of the Health Emergency on People and Companies are Published
Carey, April 2021

On April 24, Supreme Decree No. 611 of the Ministry of Finance was published, which authorizes some authorities to extend and establish certain tax measures to mitigate the impact of the health emergency caused by COVID-19 on people and companies...

EFFECTS ON PENSIONS REGULATION of Law No. 21,314 that Regulates the Market Agents and Pension Advisors
Carey, April 2021

On April 13, 2021, Law No. 21,314 was published in the Official Gazette, which, among other matters, set new transparency requirements and reinforce the responsibilities of market agents (the " Law "). Relevant modifications to the current pensions' regulation: Amendments to Decree No. 3,500 (“Pension Funds Act”) ...

EFFECTS RELATED TO MONEY CREDIT OPERATIONS of Law No. 21,314 which Regulates Market Agents and Pension Advisors
Carey, April 2021

On Tuesday, April 13 th of 2021, the above referred law that establishes new requirements for transparency and strengthens the responsibilities of market agents, regulates the social security advice and other matters indicated therein, was published in the Official Gazette (hereinafter, the “ New Law ”). Article 9 ° of the New Law modified Law No...

SEA Publishes Document on Technical Contents for the Environmental Assessment of Water Resources
Carey, April 2021

The Environmental Assessment Service (" EAS ") is preparing technical documents, as a supplement for the environmental assessment guides, to standardize criteria, background and procedures within the Environmental Impact Assessment System (“ EIAS ”)...

EFFECT WITH RESPECT TO INVESTMENT ADVISORY of Law No. 21,314 which Regulates Market Agents and Pension Advisors
Carey, April 2021

On Tuesday, April 13 th of 2021, the above referred law that establishes new requirements for transparency and strengthens the responsibilities of market agents, regulates the social security advice and other matters indicated therein, was published in the Official Gazette (hereinafter, the “ New Law ”)...

EFFECTS ON CRIMINAL LAW of Law No. 21,314 which Regulates Market Agents and Pension Advisors
Carey, April 2021

On April 13, 2021, Law No. 21,314 (“New Law”) was published in the Official Gazette, which sets forth new transparency requirements and reinforces the responsibilities of market agents, regulates pension counseling and other matters indicated therein. Article 1 of the New Law modifies Law No...

EFFECTS ON PROVISIONS FOR THE PREVENTION OF MONEY LAUNDERING of Law No. 21,314 which Regulates Market Agents and Pension Advisors
Carey, April 2021

On April 13, 2021, Law No. 21,314 (“New Law”) was published in the Official Gazette, which sets forth new transparency requirements and reinforces the responsibilities of market agents, regulates pension counseling and other matters indicated therein. Article 6 of the New Law amends Law No. 19,913 (“AML Act”) in the following aspects: New faculties and functions of the UAF...

EFFECTS ON INSURANCE REGULATION of Law No. 21,314 which Regulates Market Agents and Pension Advisors
Carey, April 2021

On April 13, 2021, Law No. 21,314 was published in the Official Gazette, which, among other matters, set new transparency requirements and reinforce the responsibilities of market agents (the "Law"). Relevant modifications to the current insurance regulation: Amendments to Decree with Force of Law No. 251 of 1931 ("Insurance Act"). Article 5 of the Law amends the Insurance Act, among others, in the following matters: Insurance consultation system (new Article 12)...

EFFECTS ON THE REGULATION OF CORPORATIONS AND THE SECURITIES MARKET of Law No. 21,314 that Regulates the Market Agents and Social Securiy
Carey, April 2021

On Tuesday, April 13th of 2021, a law was published in the Official Gazette that establishes new demands for transparency and strengthens the responsibilities of market agents, regulates the social security advice and other matters indicated therein, reforming, among other regulations, Law No. 18,045, on the Stock Market and Law No. 18,046 on Corporations (going forward, referred as the “Law”)...

 

 

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