Rodrigo Albagli, managing partner of Chilean full-service firm Albagli Zaliasnik, said the combination of more regulations, together with the threat of criminal charges for noncompliance, is a “terrible recipe” for a country that has long been a darling of international investors within Latin America.
“Top executives are worried about how responsible they will be,” said Albagli. “This is making us [Chile] much less attractive.”
Franzani is more optimistic about the impact of the law.
Global companies already have robust compliance mechanisms in place, she noted, so they just need those policies to be adapted for the local market.
Down the road, she imagines that Chile’s white-collar rules will be a selling point for investors looking to expand in Latin America.
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Publish date : 2024-09-30 03:50:00
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