Informe CAPDLC

While I was out of the country, the Comisión Asesora Presidencial para la Defensa de la Libre Competencia delivered its recommendations for strengthening Chile’s competition laws to President Piñera. The informe can be found here.

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Nueva Guía de Operaciones de Concentración de la FNE and other developments

Catching up on some recent developments at the FNE. Last week, the agency released the draft of its new Guía de Operaciones de Concentración. The most significant changes include:

una modificación de los capítulos sobre riesgos unilaterales y de coordinación, y la incorporación dentro de los mismos de una nómina de factores informativos sobre los potenciales efectos asociados a una operación horizontal, actualizados según las mejores prácticas internacionales. Dentro del capítulo sobre contrapeso a los riesgos, se incorpora una modificación sobre el análisis de las eficiencias alegadas por las empresas, y un acápite sobre el poder de negociación de los compradores.  En lo relativo a mercado relevante, se reconoce que aquel puede tener una importancia menor tratándose de la determinación de riesgos unilaterales en mercados de productos diferenciados, y, finalmente, en lo concerniente a umbrales de concentración, se elevan los mismos, adecuándolos más a las particularidades de la realidad nacional.

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Re-imagining private damages actions in Chile

Javier Tapia, over at Regulación y Competencia has written another insightful post about the TDLC’s recent ruling in the Tecumseh case. As those of you keeping score at home already know, Tecumseh involved allegations of price-fixing between Whirlpool SA and Tecumseh Do Brasil Ltda, the major suppliers in the Chilean market for low power compressors used in the manufacture of refrigerators. The competition tribunal–known by its Spanish acronym as the TDLC–found that beginning in 2004, both companies began to participate in a global cartel, as well as a regional cartel that directly affected the Chilean market. The case was notable here in that it was the first instance in which a cartel participant (in this instance, Tecumseh) has taken advantage of the FNE’s recently-implemented leniency program and admitted its involvement in an unlawful conspiracy, and provided the competition authorities with information regarding the scheme, in exchange for a fine reduction. (Previously both Whirlpool and Tecumseh had confessed to other competition authorities–in the U.S., Canada, the European Union and New Zealand–to having colluded.) In this case, because Tecumseh was the first in line to approach the FNE and to provide the required assistance, it was eligible to receive a complete exemption from any fines under the leniency program guidelines.

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Comentarios sobre Tecumseh: La aplicación extraterritorial de las normas protectoras de la libre competencia

Although I have been neglecting this blog for a while, I did just guest-write a piece (in Spanish more or less) at a far more interesting site, Regulación y Competencia, the blog of the Centro de Regulación y Competencia (Regcom) at the Facultad de Derecho of the Universidad de Chile. You can find the piece here. Be sure to check it out, and bookmark the Regcom blog, where you will find far more interesting commentary on a more consistent basis than you will ever get on this site.

Take my money, please!

We have now been in Chile for over a month. We have our house, which is still largely unfurnished as we await the arrival of our stuff from the U.S.. We have our cat and dog (and soon will have a partial refund from Delta after the airline forgot to send the cat’s health certificate, resulting in quite the adventure at the airport cargo terminal). We have our cédulas. We have our sporty “new” car, a 2004 Kia Carnival, which we (or, more accurately, my wife) bought from the conveniently-large family whose house we are renting. The kids started the fall term at their new school. And I started my new job.

One thing we do not have yet–a Chilean bank account.

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FNE informa nuevas contrataciones

This press release by Chile’s Fiscalía Nacional Económica (national economic prosecutor’s office) caught my attention for some reason:

Con el objeto de seguir fortaleciendo a la FNE, el Fiscal Irarrázabal no ha cesado en la búsqueda de destacados abogados y economistas de la plaza para engrosar las filas del ente fiscalizador…. A la División de Investigaciones, se incorpora el abogado Michael Jacob[s], ex socio de Zelle Hofmann Voelbel & Mason LLP (Minnesota), con estudios en la Universidad de Chicago y Georgetown, y con experiencia laboral en la Oficina del Attorney General del Estado de Minnesota,…