Find Lawyers in Valparaíso, Chile for Competition / Antitrust Law

The Chilean Antitrust Legislation, essentially, is geared towards improving consumer welfare by increasing market efficiencies through healthy, sustainable competition. At the centrepiece is the DL Nº211, which establishes the institutional framework of market supervision. On the one hand, the National Economic Prosecutor’s Office (FNE) oversees investigation proceedings, normative recommendations and M&A review, whereas the special Tribunal for Defence of Competition (TDLC) handles trials and adjudication.

In line with other jurisdictions, antitrust in Chile is a highly specialized field, where both lawyers and economists play a huge role in the analysis of market conduct. As an example, the TDLC is chaired by members of both professions, which allow for a more nuanced and delicate approach.

A major reform of the antitrust legislation was enacted in 2016 which introduced, among other changes, the following:

1. Increased faculties and functions of the FNE;
2. Increases in fines, and the introduction of criminal sanctions for cartel members;
3. A mandatory notification procedure for M&A above certain thresholds;
4. New rules forbidding Interlocking Directorates; and,
5. Claims for damages shall be handled by the TDLC.

The focus of antitrust attorneys should regard these substantive matters:

Horizontal Agreements: Cartels are banned per se, criminalized, and have an obligation to grant damages from their behaviour. Other forms of horizontal cooperation require the guidance of attorneys handle proceedings before the FNE.

Mergers and Acquisitions: With the new mandatory M&A review, firms are required to notify and comply with any recommendations sought out by the FNE. Parties may submit a petition for review in case their operation is rejected by the regulator.

Abuse of Dominance: Most cases handled by the TDLC involve accusations of unilateral practices, which are increasing in both scope and complexity.

Besides litigation and administrative proceedings before the competition authorities, lawyers also play a very important role assessing the business practices and strategies of their clients, which usually revolve around pricing policy, advertisement, distribution agreements, regulatory compliance, vertical practices and horizontal cooperation between competitors.