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Advanced Digital Mobile Telephony (3G)
Carey, July 2007

The main characteristic of Third Generation services (3G) is to permit voice, data and image transmissions at substantially higher speeds than traditional technologies (like 2G and 2.5G). This capability makes 3G the appropriate standard for mobile multimedia applications and wireless broadband data transmissions, allowing subscribers to be connected without interruption to the mobile web...

Alternatives In the Face of Financial Issues Associated to Coronavirus
Carey, March 2020

Upon the sanitary emergency triggered by COVID-19 and the consequential slowdown for commerce and the economy in general, it is likely that many companies will lack the liquidity to face payments for their creditors, suppliers, personnel, etc...

Amendments to Chilean Decree With Force of Law No. 211
Carey, September 2016

The Law Decree No. 211 was amended on August 30th, 2016 by Law 20,945 (the “New Law“). The following are the main amendments: Amendments on collusionThe New Law amends the crime of collusion introducing the per se standard to punish hard core cartels, providing evidence of the existence of an agreement being sufficient, independently of the power of the parties in the market and the anti-competitive effects...

Amendments to the Gas Service Law in Chile and Other Legal Provisions Enter Into Force
Carey, March 2017

The Law that “Amends the Gas Service Law and other legal provisions” (hereinafter, the “New Law” ) entered into force on February 9, 2017. The purpose of the New Law is to fill in the legal gaps existing in a market that, according to the parliamentary discussion, needs to improve the level of competition among their different actors...

Amendments to the Labor Code and New Minimum Monthly Income
Carey, August 2014

During the month of July of the current year, three relevant labor laws have been published in the Official Gazette: 1) Law No. 20,761 that extends the right of feeding children to working fathers and establishes new regulations regarding maternity.On July 22nd, 2014 the Law No. 20,761 was published in the Official Gazette...

Apostille, Towards a Simpler Legalization Process
Carey, August 2016

From August 30th of 2016, the Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents, commonly known as the “Apostille Convention”, and which changes the legalization process of foreign public documents, will enter into force in Chile. This treaty was signed on October 5th, 1961, and on December 2015 Chile completed the procedures to ratify it. In order to enforce this convention in Chile, Law No...

Banking Regulation in Chile: Overview
Carey, November 2019

Our partner, Felipe Moro, and our associate, Diego Lasagna, authored this year’s Thomson Reuter’s Practical Law guide about Banking Regulation in Chile, which provides, “a high level overview of the governance and supervision of banks, including legislation, regulatory bodies and the role of international standards, licensing, the rules on liquidity, foreign investment requirements, liquidation regimes and recent trends in the regulation of banks...

Bill of Law for the modification of Law N° 19.496 on the Protection of the Rights of Consumers
Carey, June 2014

On June 2nd, 2014, President Michelle Bachelet entered a bill into Congress which seeks to modify Law N° 19.496 on the Protection of the Rights of Consumers (“CPA”). The message of the bill recognizes that the tools provided by the current legislation to address violations to the rights of consumers are not sufficiently efficient or dissuasive: in several cases it is less expensive for providers to pay a fine for breach of the CPA, than to comply with such regulation...

Bill of Law Which Will Modify the Chilean Data Privacy Act: Comments to the Minutes Sent by the Ministry of Finance to the Congress
Carey, June 2016

The government recently announced that a bill will be submitted to Congress to modify the Chilean Data Privacy Law N° 19,628 (“DPL”). In connection with the future bill (yet to be presented before Congress), the Ministry of Finance sent to several members of Congress a set of informal minutes outlining the structure and core aspects of the bill.The following is a summary of the minutes, and an initial legal analysis prepared by Carey...

Bill of Law Which Will Modify the Chilean Data Privacy Act: Comments to the Minutes Sent by the Ministry of Finance to the Congress
Carey, June 2016

The government recently announced that a bill will be submitted to Congress to modify the Chilean Data Privacy Law N° 19,628 (“DPL”). In connection with the future bill (yet to be presented before Congress), the Ministry of Finance sent to several members of Congress a set of informal minutes outlining the structure and core aspects of the bill.The following is a summary of the minutes, and an initial legal analysis prepared by Carey...

Bills of Law on Sanitary Matters, filed in the context of the current situation
Carey, March 2020

In the context of the current sanitary alert, several bills of law have been filed with Congress, seeking to regulate certain aspects associated to states of emergency and sanitary crises in particular.To such ends, the bills that stand out are:I. Bill prohibiting and penalizing price increases in the face of epidemics or pandemics:On Tuesday 17 March 2020, a bill was filed with the Lower Chamber (Newsletter 13...

Brexit and Its Effects on Intellectual Property Rights
Carey, July 2016

On June 23rd the United Kingdom (UK)1 decided, by means of a referendum, to exit from the European Union. This decision is known as “Brexit”. According to Art. 50 of the Treaty on European Union, the UK must notify the European Council – which for this purpose represents the EU – of its intention to exit, after which the parties will negotiate an agreement setting out the arrangements of that withdrawal and of the future relationship between the UK and the EU...

Carey’s contribution to ICLG
Carey, December 2019

Carey partner, Diego Peralta, and associate, Vesna Camelio, contributed to the Q&A section of the Chilean chapter in the first edition of the “Foreign Direct Investment Regimes: A practical cross-border insight into FDI screening regimes”. To read the full article, click here: https://www.carey.cl/download/filebase/noticias/_notes/Chilean-chapter-ICLG-Foreign-Direct-Investment-Regimes...

Carey’s Tax Contribution to ICLG
Carey, February 2020

Our partner, Jessica Power, and our associate, Ximena Silberman, contributed to the Q&A section of the Chilean chapter in the “Corporate Tax 2020” edition of the International Comparative Legal Guides. Jessica Power has been a partner at Carey since 2008 and is co-head of the Tax Group...

Changes of the Regulation of Public Purchases
Carey, March 2020

On January 21st, 2020, Supreme Decree N° 821 of the Ministry of Finance was officially published, amending Supreme Decree N° 250, which contemplates the Regulation of Law N° 19.886 about Public Procurement (the “Regulation”)...

Chile - Digital Television: Tough Decisions
Carey, February 2007

During the last 10 years there has been a significant market debate about the position Chile should take in connection with open digital television. This debate is all teh more significant because this service may predominate in the future because of its ability to allowing users to better administer the content they wish to watch. Since the beginning of the debate, different countries have tried to introduce their respective technologies in Chile...

Chile - Investing, The Private Equity Review - Edition 6
Carey, June 2017

I OVERVIEW The private equity industry has continued to develop in Chile but at rates lower than in previous years. Growth rates of 2.1 per cent for the year ended 31 December 2015 and an expected rate of 1.6 per cent for the year ended 31 December 2016 have certainly affected the investment activity generally. Chile continues to offer, however, an attractive business environment and a stable legal framework...

Chile accedes the Budapest Treaty
Carey, July 2011

On May 5th, 2011 Chile joined the Budapest Treaty on the International Recognition of the Deposit of microorganisms for the Purposes of Patent Procedure. In Chile, this treaty will enter into force on August 5th, 2011...

Chile and the United States Sign the Inter-Governmental Agreement (“IGA”) Within the Scope of the Foreign Account Tax Compliance Act (“FATCA”)
Carey, April 2014

FATCA is a United States Act that requires US persons, including individuals who live outside the United States, to report their financial accounts held outside of the US, and requires foreign financial institutions (“FFIs“) to report information regarding their US clients to the US Internal Revenue Service (“US IRS”). FATCA was meant to combat offshore tax evasion and to recoup federal tax revenues...

Chile Offers Manufacturing Incentives to Promote the Development of Lithium Products
Carey, May 2017

The Chilean Economic Development Agency, Corfo, and the Foreign Investment Promotion Agency, InvestChile, have announced the opening of the first call for national and foreign companies, to express their interest in manufacturing lithium products, such as battery cathodes and electrolytes. Companies that are selected will be guaranteed 25 per cent of US producer Albemarle’s lithium production at the lowest cost available in the market...

Chilean Central Bank Informs Conditions for Credit Facility Conditioned to the Increase in Placements (FCIC) and Supplementary Measures
Carey, March 2020

As a response to the financial tensions triggered by the dissemination of Covid-19, the ChileanCentral Bank (BCCh) has announced a series of measures aimed at granting liquidity to theeconomy, support the flow of credit and the conveyance of the monetary policy. A core component of these measures is that of a Credit Facility Conditioned to the Increase inPlacements (FCIC)...

Chilean Central Bank Sets Rules on Financing for Banking Institutions to Support Funding and Refinancing of Loans and Postpones Deadlines to Facilitate Applications to Public Contests
Carey, March 2020

26 March 2020 Chilean Central Bank sets rules on special financing for banking institutions to support funding and refinancing of consumer andcorporate loans, along a temporary flexibilization of its regulation onliquidity management in the banking industry As a response to the financial tensions triggered by the dissemination of Covid-19, the Chilean Central Bank (BCCh) announced on Monday 23 March 2020 a series of measures aimed atgranting liquidity for the economy and supporting the

Chilean Environmental Evaluation Service Releases New Guide for Determining the Environmental Flow for Hydropower Plants
Carey, July 2016

The Environmental Evaluation Service (SEIA) has published the “Guide for Determination of the Ecological Flow for Hydropower Plants”.The objective of the Guide is to establish uniform criteria for determining the environmental flow regime in hydropower plant projects that are evaluated by the SEIA. The Guide incorporates the use of hydrological criteria, valuation of ecosystem services and anthropic uses, while also taking into account the particular project’s specific characteristics...

Chilean Financial Market Commission Announces a Package of Measures to Facilitate Credit Flow to Both Companies and Individuals / Time Extension to File Financial Information Due to COVID-19 Outbreak
Carey, March 2020

Financial Market Commission Announces a Package of Measures to Facilitate Credit Flow to Both Companies and Individuals By Diego Peralta and Diego Lasagna   On March 23, 2020, the Financial Market Commission’s Council (“CMF”) approved new measures destined to grant more flexibility to the financial system, in the context of the coronavirus Covid-19 global outbreak...

Chilean Financial Market Commission Publishes, for Public Consultation, Two New Regulations on Risk-Weighted Assets Determination and Banks Capital Buffers Implementation
Carey, March 2020

On January 27, 2020, the Financial Market Commission (“FMC”) published, for public consultation purposes, a proposed amendment to its Updated Regulations Compendium, by means of introducing two new Chapters: Chapter 21-6, on credit risk-weighted assets determination, and Chapter 21-12, on additional basic capital...

 

 

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