COMPLIANCE
We advise companies on the prevention and management of their legal risks, addressing them in a comprehensive manner. This includes the prevention of crimes that give rise to criminal liability of the legal entity and the prevention of breaches and non-compliance in other critical aspects for the company. We also consider the reputational implications of these risks and the importance of managing them adequately, beyond the legal minimums.
Stages of the process
- Diagnosis and assessment of business risks.
- Report of recommendations.
- Implementation of recommendations (development and/or modification of crime prevention model, code of ethics, protocols and procedures, contractual clauses and others).
- Training for their effective application.
Complementary services
- Ongoing advice on the application of the compliance program.
- Audits and risk surveys in specific areas.
- Internal investigations.
- Training on compliance and risk prevention in specific matters.
- Integrity and compliance programs required in public bids.
Frequently Asked Questions
What is compliance and why is it important in Chile?
When we talk about compliance, we refer to implementing actions and measures to prevent risks derived from the commission of crimes and non-compliance with regulations in a company. This is materialized through the development and effective implementation of a compliance program that includes a series of policies, protocols and internal regulations to adequately manage the legal risks present in the processes and activities of the company.
In criminal matters, compliance is essential to exempt the company from criminal liability for crimes committed by its employees or even suppliers in the development of its business. However, beyond this or other benefits that may be established by law, the effective implementation of compliance programs reduces the risk of committing crimes and legal infractions, with the economic and reputational costs that this entails.
What are the compliance regulations in Chile?
Among the laws that contemplate compliance models in Chile, we find Law No. 20,393 on Criminal Liability of Legal Entities (modified by Law No. 21,595 on Economic Crimes), Law No. 19,913 on Money Laundering and Law No. 19,496 on Consumer Protection, as well as Law No. 19,628 on personal data with the modifications approved by Congress in August 2024. We also find elements of compliance in the Labor Code and other labor regulations, which has been accentuated with the amendments introduced by Law No. 21.643 (Karin Law).
In turn, although it is not a binding norm, the National Economic Prosecutor’s Office has a guide on antitrust compliance programs to promote the adoption of effective programs in this area.
In any case, it is possible and advisable to implement compliance models in all matters that represent relevant legal risks for a company, regardless of whether the applicable regulations contemplate a compliance model or not.
How to implement a compliance program in my company in Chile?
To implement a compliance program it is necessary to make a diagnosis and survey of legal risks. Based on this, the protocols, procedures and internal regulations that make up the company’s compliance program can be drawn up. This in turn requires constant monitoring, analysis and evaluation for the implementation of improvements, as well as adequate dissemination and training to personnel and third parties to whom it is applicable (e.g. suppliers).
What is a compliance officer and what is his/her role in Chile?
The compliance officer is in charge of the compliance function in the company and must ensure the proper implementation and continuous improvement of the compliance program.