Monday, August 27, 2012

Chilean Agency Offers ‘Practical Guidance’ on Competition

Posted by D. Daniel Sokol

Javier Tapia, Centre for Regulation and Competition, Universidad de Chile notes that Chilean Agency Offers ‘Practical Guidance’ on Competition.

ABSTRACT: This note briefly describes the Chilean competition authority’s (FNE) new guide on competition law compliance programs. It highlights the focus of the Guidance on the elements of an effective program and observes that the FNE considers companies’ compliance programs in its recommendations relating to fines and in its willingness to settle cases. Remarkably, the FNE approach is an important reminder to competition authorities worldwide that there is a better strategy than the antagonistic approaches of the US Antitrust Division and DG Comp. The note also comments on related case law.

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