Wolfenson Lawyers provides corporate advice specialized in regulatory compliance and crime prevention models.

 

In particular, our Firm focuses on advising local and international clients, such as allies of corporations, financial institutions and local companies in the most diverse legal matters. In this context, we provide advice related to the design, implementation and monitoring of internal policies and procedures in relation to corporate compliance with the legal and regulatory requirements applicable to commercial activities, reducing the risks of any operation.

 

In addition, we provide self-assessment advice to companies subject to the supervision of the Financial Market Commission on corporate governance, risk management and anti-corruption practices.

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Compliance issues covered by our practice include legal advice on risk management, crime prevention models and the search for compliance with current regulations. With a focus on specialized legal advice in corporate criminal matters.

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Here is a brief legal guide to provide you with guidance on Compliance and Anti-Corruption:

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What is Compliance?

Compliance (or compliance) is defined as the independent function that identifies, advises, alerts, monitors and reports to the company on risks and possible sanctions , such as financial and even reputational losses that occur when non-compliance with the legislation , ethical code and other standards .

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In summary, Compliance corresponds to that advice that allows firms and institutions to detect and manage the risks of non-compliance, mitigate penalties and monetary and reputational losses , which are always closely linked.

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Where is the regulation that gives rise to Compliance in Chile regulated?

As for the regulations that give rise to Compliance , it has various sources, including the law itself; such as the one that establishes criminal liability of legal persons (Law 20,393) or the one that regulates money laundering or free competition ; of norms issued by supervisors such as the Superintendencies ; of codes of good practice promoted by industry associations; or internal codes of conduct of the same company. In this way, Compliance has become an elementary piece in today's business world .

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How to implement a Compliance program in a company in Chile?

The formula to design an effective compliance program is to first identify the exact measures of the company , just like a tailor when designing a custom garment tailored to the client, it will be important to identify the specific risks and then design and implement various controls associated with the most relevant risks of the company and industry in question . Next, it will be relevant, the constant and permanent monitoring of the prevention system or model to evaluate the various situations that constitute risks , and the effectiveness of the controls designed and implemented and to solve the difficulties that arise. One of the best options in this regard is about obtaining a crime prevention model or compliance program . Wolfenson has experience in the design and evaluation of compliance programs and crime prevention models , tailored to the interests and characteristics of our clients .

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What are the standards in Compliance in Chile?

The standard involves the design, implementation, auditing and improvement of the company's compliance system . The ISO 19600 standard for compliance management systems establishes the classic model called PDCA: Plan, Do, Check, Act. (Plan, Do, Verify, Act). It is for this reason that a compliance system is not exhausted in its design, planning and implementation, rather it is a continuous and permanent process. Wolfenson Abogados aims , then, not to avoid the fine or the sanction, but rather to exhaust all means of prevention in the event of a risky event that could affect the company economically and also in terms of its reputation .

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Wolfenson Abogados provides legal advice of excellence in compliance matters.

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Links of interest about Compliance for Companies :

1.- Penal Code

2.- Law of Criminal Responsibility of Legal Persons

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Wolfenson Lawyers. Chile Law Firm.

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If you need more information and legal advice regarding compliance and anti-corruption, we invite you to contact our lawyers in Santiago. We are located at Avenida Apoquindo 2930 in the commune of Las Condes, Santiago de Chile.