THE LEGAL 500 > EVENTS > GC Powerlist: Chile
Last Wednesday 30th August saw the launch of the first GC Powerlist Chile, independently researched by The Legal 500 and sponsored by market leading firm, Carey, in whose office the reception took place.
In addition to the welcome cocktail and a brief address by firm senior partner Jorge Carey, the event featured a panel discussion on compliance involving Alejandro Rubilar (Executive Director, Regional Counsel for corporate banking and Country Counsel -Chile- at JP Morgan), Gonzalo Smith (Head of Legal & Governance at multinational retailer, Falabella) and Nicolás García (General Counsel at Chile’s Empresa Nacional del Petroleo - ENAP), as well as Carey partner and compliance specialist Marcos Rios and Tim Girven, editor of The Legal 500 Latin America.
The conversation could have become a conference in-and-of itself but in the limited time available, nevertheless managed to touch on issues including the evolution of compliance both globally and in Chile; the effects of extra-territorial laws including ABAC, FCPA and the UK Bribery Act in the local, regional (Lat Am) and global contexts; and at the specifically Chilean level, the impact of the extensive media coverage of recent private sector corruption cases on the development of compliance policies and structures within Chilean corporate entities.
The conversation then turned more towards practical organisational issues and the characteristics of the compliance programmes and structures each of the panellists organisations had put in place, including the internal advantages (cultural, labour-related, commercial and legal, etc.), and perceptions of the results; the independence and autonomy of the structure implemented (lines of reporting, etc.); and functional aspects of developing genuine compliance capability such as the degree to which it has become a requisite for gaining private sector contracts, and the need for certification before third-parties (eg: suppliers, contractors, etc.).
In conclusion the discussion turned towards the subtler aspects of the balance required in the implementation and maintenance of an effective compliance program: costs (both financial and in terms of time); the allying o the compliance function with the strategies of the business; and winning acceptance of that function within the company. This –in particular the last of these points- opened on to questions of how to effectively internalise the trend towards ethical behaviour, compliance and corporate integrity; questions around the ideal professional profile for a compliance officer; and the issues attendant on the monitoring of the programs efficiency and effectiveness.
As suggested above, the conversation could have gone on into the night; but there was the small issue of celebrating the guest’s inclusion in the GC Powerlist Chile to attend to. Please see below for photos and feedback on the event. In the interim, The Legal 500 would like to congratulate all those who made it onto the list, and to thank both those who attended and Carey for their support of this event.