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Lock them up: A quick look at Chile’s new antitrust regulation

18 marzo, 2017

Recomendado artículo de Benjamín Gómez, abogado de la Pontificia Universidad Católica de Chile, sobre las modificaciones a la legislación de competencia que entraron en vigencia en Chile en Agosto 30 de 2016. De particular importancia: el retorno de las penas criminales.

Developing World Antitrust

By Benjamin Gomez*

So it took a bit longer than originally predicted on my previous contribution to DWA [1], but it came as tough as expected. I am referring to the new amendments to Decree Law 211 – the antitrust statute in Chile – which entered into force by Law 20.945 on August 30th, 2016, bringing unprecedented punishments for cartels and an overall strict regulation of other relevant antitrust issues. In an effort to be critical yet pragmatic, I will keep the informal tone that has been encouraged by the founders of this blog.

We need to begin with the big shocker of this new law: the reinstatement of criminalization for an anticompetitive conduct. Prison time for cartels is no novelty; until 2003, Chilean Antitrust legislation contemplated up to 5 years of prison for these anticompetitive conducts (although no one was ever sentenced) [2]. But the new statute…

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