Compliance in Chile
Founded in 2005 as Balmaceda, Cox y Piña, today around a third of BCP Abogados' work is focused on compliance. The 11-strong team is highly experienced in the development and implementation of companies' crime prevention strategies in accordance with 2009's watershed Law 20,393, which established the criminal liability of legal entities. The practice group specializes in criminal compliance, anti-corruption, and the prevention of asset laundering and terrorist financing. Founding partner Matías Balmaceda specializes in both criminal litigation and compliance, including the design and implementation of crime prevention models in various sectors. 'Standing out for his knowledge in criminal matters and corporate governance', experienced senior associate Iván Millán is director of the compliance area; further key support comes from Antonia Bernales who was recently promoted to senior.
‘A very well-trained compliance team, with a wide and distinguished career and prestige. The lawyers have advised large companies on the implementation of crime prevention models and there is fluid communication with them. They are also very compliant in terms of quality of work and established deadlines.’
‘The team of lawyers shows a good level of management in its mandates. The team transmits solid ideas in a clear and practical way and there is excellent attention whenever required, with timely responses.’
‘They are specialists in corporate matters, particularly the criminal liability of legal persons. They work with highly qualified professionals, with proven experience, in addition to a team of young people with diverse positions, which allows them to have different legal perspectives.’
‘They make a complete survey of the business in order to have a complete understanding, make a correct diagnosis of the company’s problems and provide the correct legal advice.’
‘Senior associate Iván Millán stands out for his knowledge in criminal matters and corporate governance.’
Banco Santander Chile
Tata Consultancy Service Chile
- Advised leading retail group Empresas Falabella on the design and update of a criminal compliance program.
- Assisted cellulose giant Empresas CMPC with the design and update of a criminal compliance program.
- Established an asset laundering and terrorist financing prevention scheme, along with the design and implementation of a criminal compliance program, for a company in the real estate sector.
- Assisted Tata Consultancy Services Chile with its criminal compliance program.
- Advised on a criminal compliance programme for Banco Santander Chile and its subsidiaries.
A member or the Ibero-American Group for Compliance, Carey fields a small but experienced, four-strong compliance and anti-corruption team led by litigator Ricardo Reveco and corporate group co-head Guillermo Acuña. The practice typically assists clients with the prevention of corruption or money laundering, the negotiation of specialised contractual provisions, and the design of compliance due diligence processes for M&A, joint ventures and other transactional matters. Alongside the firm's white-collar crime practice, the team also represents clients facing criminal enforcement actions, and has successfully defended legal entities and individuals in high-stake cases involving alleged bribery, money laundering and influence trafficking. Support at associate level is provided by the highly experienced senior Pablo Albertz, who joined the firm from Veracitas Compliance in 2017 and has a masters' in criminal law. The firm has also been the Chilean legal partner of TRACE Anti-Corruption Bribery Systems since 2014.
‘Carey’s compliance team responded promptly to our queries and actively resolved our requirements. They also had the ability to adapt to the requirements of a non-profit organisation.’
‘They are very professional and make good use of the great staff they have, and they help each other to find the best solution for the client.’
‘Carey has a solid compliance team, is very well prepared and delivers quick responses.’
‘We like their preparation, confidentiality, speed and efficiency.’
Fundación de Conservación Tierra Austral
- Assisted Fundación de Conservación Tierra Austral with the design, draft and implementation of its compliance and anti-corruption programme.
- Advised Chilean real estate company Paz Corp on the design, adjustment and implementation of its compliance programmes.
- Advised a leading Chilean real estate company in the context of a regulatory investigation resulting from an on-site inspection conducted by the Chilean Financial Analysis Unit (UAF).
- Advised companies in the mining and communications sectors on compliance and integrity due diligence procedures in the context of corporate acquisitions.
- Advised on the updating of the AML/CTF compliance program, internal rules and regulations of a major foreign bank in accordance with local regulations and international standards on anti-money laundering.
Fielding a six-lawyer compliance unit branded as AZ Compliance that combines corporate law with criminal litigation, Albagli Zaliasnik specialises in anti-corruption investigations and crime prevention models. The practice's scope includes diagnostic audits, internal investigations, due diligence, compliance programmes and training. Other areas of focus are compliance-related data privacy, consumer issues, governance, risk management, and healthcare life sciences and environmental matters. Managing partner Rodrigo Albagli developed the firm's compliance practice, which is now co-led by senior associates Jaime Winter, a specialist in compliance regulation, and Eduardo Anguita, who arrived from Barros & Errázuriz in April 2019 and focuses on compliance program implementation and internal reviews and audits. Notably, the firm's other name partner, Gabriel Zaliasnik is president of the Criminal Procedural Code Reform Commission (established 2018), whose remit includes reform of key anti-corruption legislation, Law 20.393.
‘They have not only first-class lawyers but an infrastructure and knowledge that are comparable to the top law firms in the US.’
‘The team has been an ally in the development of our crime prevention model, providing relevant knowledge that has allowed us to improve key aspects of how we approach these issues. Its strongest points are technical knowledge on compliance issues and how companies can actually put it into practice.’
‘The best qualities are its focus on the mix of technical knowledge and the human quality of its lawyers. Its clients really perceive the value of the service they provide.’
‘Senior associate Jaime Winter is fast and to the point, and knows how to use all his weapons to find solutions.’
- Assisted Chilean fast food chain Tarragona with both a compliance audit of its existing processes and an update of its crime prevention models.
Barros & Errázuriz's sizeable team undertakes compliance assessments and implements best practices for its corporate clients as well as evaluating corruption and corporate governance risks, both legal and reputational in relation to M&A and financing deals. The compliance practice's broad offering also covers crime prevention, capital markets, data protection, consumer protection, and competition, labour, public and environmental law. In addition, it assists with adopting measures once infractions are identified, defending clients in proceedings involving compliance violations. The core of the team is made up of insurance and finance regulatory expert Javier Díaz, who is also a corporate compliance and governance specialist; firm managing partner and all-round corporate advisor Cristián Barros, and recently promoted capital markets and compliance director Juan Cristóbal Schmidt.
‘It is a very consolidated team and very strong in each area it develops. The firm has a strong commitment and values what teamwork is, complementing each other very well, especially the work between partners, directors and associate attorneys. All of them, through their experience and knowledge, have directly contributed to the client to deliver solid responses to the requirements presented to them. This value as a team is something that sets it apart from other firms.’
‘The degree of knowledge and how they apply their knowledge in various areas are fantastic.’
‘I must highlight partner Javier Díaz and director Juan Cristóbal Schmidt; and the associate attorneys have done a great job over time, showing great concern and willingness to help us.’
Exportadora Los Fiordos
- Assisted Exportadora Los Fiordos with its compliance program.
- Advised Spain’s Fintonic, which has developed an app for managing personal finance, on the design of its terms and conditions and privacy policies.
- Advised fintech company, Chipax, on its privacy and data protection policy.
DLA Piper Chile's broad practice is co-led by Diego Noguera and the recently promoted Mauricio Halpern (who can draw on his in-house experience of compliance management), and handles regulatory compliance assessments, compliance control mechanisms, the design of compliance programmes, criminal liability prevention models and compliance certifications. The practice is particularly experienced in compliance matters involving the forestry, mining and heavy machinery, retail, energy and publishing sectors. The team's abilities are complemented by the firm's active litigation department and the office's recent initiation of a white-collar practice, led by counsel Ignacio Schwerter, who joined in September 2019 from Cortés & Rodriguez.
- Assisted Finning with regulatory compliance issues surrounding environmental and health and safety matters.
- Provided compliance advice to Codelco and all its divisions.
Led by Rafael Collado since its inception in 2013, FerradaNehme houses one of the oldest compliance practices in the country. Collado, who became a partner of the dispute resolution and compliance practices back in 2018, has both civil and criminal litigation experience as well as deep compliance and criminal-prevention expertise. Building on the firm's first class reputation in those legal sectors a public law aspect -such as competition law and environmental matters- the four-strong team has developed a full-service compliance offering that undertakes preventative training and advisory; forensic investigation, monitoring and review; and white-collar litigation across all relevant areas, including consumer law and data privacy and protection. Key support comes from associate Lucía Álvarez, who with a Master's degree in criminal law and is particularly focused on matters related to Ley 20.393 on criminal responsibility (and its successive revisions).
Centro de Compensación Automatizado
cementos Bío Bío
Compañía de Aceros del Pacífico
Compañía de Petróleos de Chile (COPEC)
- Comprehensive, ongoing advice to VTR Comunicaciones (since 2015) regarding compliance matters.
- Advised Centro de Compensación Automatizado regarding the evaluation of criminal risk following the implementation of Ley 21.121 and its broadening of the remit of corporate criminal responsibility.
- Advised Sky Airlines on its development of a new consumer compliance program.
- Advisory to Walmart Chile regarding compliance in matters of trade and imports, particularly in relation to national criminal and administrative regulations.
Guerrero Olivos' four-strong compliance department's offering includes business model legal risk assessments; the ongoing assessments of potential breaches; periodic reports regarding regulations and legal alerts; the drafting of internal codes of conduct and corporate regulations and procedures, and training programmes. Clients also benefit from the team's work with the firm's corporate governance, competition, environment, tax, labour, finance and regulatory teams, on anti-corruption, corporate criminal liability, anti-money laundering, industry-specific regulations, lobbying regulations, and freedom of information law (FOIA) issues. Pedro Pellegrini is the lead adviser for compliance matters.
‘Good co-ordination between the different partners and areas addressed.’
‘This team delivers solid legal advice and efficiently focuses on the critical issues for the client. It co-ordinates all the details, keeping us involved when necessary, and has successfully represented us on various matters. We greatly value its counsel.’
‘The Guerrero Olivos team is always available to solve all legal needs. I consider them as my own and internal legal counsel – that is the main competence of this team compared to other law firms I have worked with.’
‘The individuals on the team have gone out of their way to assist us with our matters and on short timelines. They have dedicated time and resources to help us.’
‘Great for intelligence, flexibility, knowledge, decisiveness, speed in response and capacity. The team is very competent, compares favorably with other firms, and the lawyers complement each other very well. They are very committed to the work they do.’
Volvo Financial Services
Pandora Jewellery Chile
Air Products- Indura
Pontificia Universidad Católica de Chile
- Advises AES Gener and AES Corporation (USA) on several compliance matters, including the preparation and review of internal corporate guidelines.
Full-service law firm Prieto Abogados fields a four-strong compliance team that is expert in transaction-related matters, internal auditing, administrative sanctioning, compliance policy drafting, and the design of internal compliance and crime prevention systems. Assistance with compliance programs is also provided in relation to antitrust, labour law and environmental matters, and the group is able to leverage off the firm's expertise in the energy, food, insurance, real estate and private equity sectors. Lead compliance partner José Andrés Pascual Moreno's broad practice covers criminal liability, reporting obligations and the establishment of viable compliance structures. Diego Madariaga provides support at associate level.
Engie Energía Chile
Assurant Chile Compañía de Seguros Generales
Pernod Ricard Chile
Sage Parts Chile
- Ongoing advice to Assurant Chile Compañía de Seguros Generales regarding all compliance matters.
- Ongoing advice to real estate management company Plaza regarding compliance matters.
- Assisted Engie Energía Chile with in-house training compliance.
The four-strong team at Cariola Díez Pérez-Cotapos is experienced in advising both on the prevention of - or response to - criminal and administrative infractions, such as internal frauds, prosecuting authorities' interrogations and defrauding of third parties; it also assists with compliance models. Clients benefit from the practice working in conjunction with the firm's tax, IP, labour, regulatory and litigation departments, as well as particular sector expertise in food, medical devices, IT, transport and mining. Advising on compliance, criminal liability and associated litigation and arbitration, Jorge Boldt is the key contact.
‘They stand out for being one of the most prestigious firms in this area and for providing advice that adds value to the business.’
‘Cariola’s compliance team stands out for its availability to provide legal advice in a timely and efficient manner, adding value to the business, performing adequate case management and providing tools to the company’s internal legal teams.’
Urenda, Rencoret, Orrego y Dörr's five-strong department assists with internal compliance-related corporate policies and codes surrounding anti-corruption, competition law, data protection, securities, and labor and environmental laws. International clients are also assisted (on an ongoing or recurrent basis) with the adaptation of their Foreign Corrupt Practices Act (FCPA) and UK Bribery Act-related compliance programs to the Chilean context. Alberto Rencoret stands out for labour law-related compliance matters; and Nicholas Mocarquer provides compliance advice on anti-corruption, competition law and data protection.
Kospo Power Services
Inmobiliaria Mall Viña del Mar
- Advised Aceros Aza on the implementation of a crime prevention program (in accordance with Law 20.393 on the criminal liability of legal entities), including a crime prevention code and the appointment of a compliance officer.