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CHILEAN GOVERNMENT PROPOSES AMENDMENTS TO THE PENSION SYSTEM IN CHILE

Recently, the Chilean Government introduced a bill to the Congress that intends to amend the Chilean Pension System.

The proposed amendments have the following purposes: (i) to expand current and future benefits of the so called “Solidary Pillar”; (ii) to enhance future pensions derived from the employees’ mandatory savings; (iii) to improve women and middle classes current and future pensions; (iv) to promote competition in the Pension Funds Managers (“PFM”) industry; (v) to encourage pension education and to foster pension information; (vi) to increase PFM’s transparency system; (vii) to strengthen the Pension System oversight, and (viii) to create a dependency subsidy and a dependency insurance designed for people over 65 years old that are in a dependency situation.

For more information, please download the following PDF:

CHILEAN CENTRAL BANK ISSUES NEW CHAPTER OF ITS FINANCIAL COMPENDIUM REGARDING THE ACKNOWLEDGEMENT AND REGULATION OF BILATERAL DERIVATIVES.

On April 5, the Central Bank of Chile, (“Central Bank“), through Board Agreement No. 2143-02-180405, approved new rules (the “Rules“) applicable to the acknowledgement and regulation of master agreements for bilateral derivatives (the “Agreements“), thereby incorporating a new Chapter III.D.2 to its Financial Compendium.

Regarding the foregoing, in October 2017, the Central Bank started a public consultation process concerning its proposed rules for bilateral derivatives. In order to improve the proposed rules, some of the comments received were included therein.

THE CHILEAN INTERNAL REVENUE SERVICE PUBLISHES A NEW VERSION OF THE TAX SCHEMES CATALOGUE

 On November 23, 2017, the Chilean Internal Revenue Service (“SII”) published a new version of the Tax Schemes Catalogue (the “Catalogue”), a consultation guide originally issued by the SII in 2016 in order to grant legal certainty to all market players as well as ensuring payment of applicable taxes under the Chilean Law.

For more information, please download the following PDF

 

 

 

 

If you have questions about this article or need more information on this subject please contact Felipe Dalgalarrando H. by email to fdalgalarrando@dryc.cl or phone + 56-2-23830000.

 

Dalgalarrando, Romero y Compañía Abogados Limitada – Todos los derechos reservados.

 

All the information and opinions contained in this article are for information purposes only and should not be construed or relied upon as legal advice or to create a lawyer-client relationship.

Dalgalarrando, Romero y Cía. responds the Chilean Chapter of the 2017 Private Equity questionnaire published by Latin Lawyer.

Link:

http://latinlawyer.com/jurisdiction/1004588/chile

 

 

On February 23, 2017 Act No. 21,000 (the “Act“) was published in the Official Gazette. The Act creates the Financial Market Commission (the “Commission”), which replaces the current Superintendency of Securities and Insurance (“SVS”).

The Commission is a technical public service, with legal personality, which will oversee the financial and securities markets with broader powers than the SVS. Unlike the SVS, who was governed by one person holding the position of Superintendente, the Commission is governed by a Council of Directors comprised of five members.

For more information, download the following PDF.



 

 

 

 

 

 

  • CHILEAN GOVERNMENT PROPOSES AMENDMENTS TO THE PENSION SYSTEM IN CHILE Recently, the Chilean Government introduced a bill to the Congress that intends to amend the Chilean Pension System. The proposed amendments have the following purposes: (i) to expand current and future benefits of the so called “Solidary Pillar”; (ii) to enhance future pensions derived from […]

  • CHILEAN CENTRAL BANK ISSUES NEW CHAPTER OF ITS FINANCIAL COMPENDIUM REGARDING THE ACKNOWLEDGEMENT AND REGULATION OF BILATERAL DERIVATIVES. On April 5, the Central Bank of Chile, (“Central Bank“), through Board Agreement No. 2143-02-180405, approved new rules (the “Rules“) applicable to the acknowledgement and regulation of master agreements for bilateral derivatives (the “Agreements“), thereby incorporating a […]

  • THE CHILEAN INTERNAL REVENUE SERVICE PUBLISHES A NEW VERSION OF THE TAX SCHEMES CATALOGUE  On November 23, 2017, the Chilean Internal Revenue Service (“SII”) published a new version of the Tax Schemes Catalogue (the “Catalogue”), a consultation guide originally issued by the SII in 2016 in order to grant legal certainty to all market players […]

  • Dalgalarrando, Romero y Cía. responds the Chilean Chapter of the 2017 Private Equity questionnaire published by Latin Lawyer. Link: http://latinlawyer.com/jurisdiction/1004588/chile    

  • On February 23, 2017 Act No. 21,000 (the “Act“) was published in the Official Gazette. The Act creates the Financial Market Commission (the “Commission”), which replaces the current Superintendency of Securities and Insurance (“SVS”). The Commission is a technical public service, with legal personality, which will oversee the financial and securities markets with broader powers […]