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New Pharmacist's Guidelines for Advertisement in Brazil
Veirano Advogados, January 2019

The Federal Council of Pharmacy published Resolution No. 658/2018 to regulate publicity, advertisement and announcement of activities related to the pharmaceutical profession. Such include any disclosure arising or promoted by pharmacists, regardless of the means of communication...

Dispute Between Two Popular Ride-Sharing Companies in Brazil Reinforces That Comparative Advertising is Not Illegal
Veirano Advogados, January 2019

The dispute between ride sharing companies Uber and 99 is increasingly fierce. Now the main stage is Rio de Janeiro. In May 2018, Uber filed a lawsuit against 99 in the city, claiming misleading advertising. Less than two months ago, 99 began an aggressive discount campaign in the city to promote the 99Pop service in Rio, competing directly with Uber...

Law No. 21,121 Amends Rules Relating to Corruption and Other Crimes, Incorporates New Criminal Conducts, and Expands Criminal Liability of Legal Entities
Carey, January 2019

Law No. 21,121 (the “Law”), which came into force on November 20, 2018, amends the Criminal Code, Law No. 20,393 on Criminal Liability of Legal Entities, and Law No. 19,913 on Money Laundering, in connection with various criminal conducts relating to corruption and conflicts of interest. The following is a summary of the main aspects of the Law: 1.Domestic Passive and Active Bribery...

Changes to Rules on Occupational Safety and Health in Mining Activities
Veirano Advogados, January 2019

On December 19th, 2018, the Ministry of Labor published Ordinance No. 1,085/2018, for the purpose of amending Regulation No. 22 ("NR-22"), which regulates aspects related to the mining sector occupational safety and health. The reformed NR-22 therefore brings changes to the sections regarding the Disposal of Tailings, Wastes and Products and the Emergency Response Plan, within the framework of the National Policy on Dams Safety ("PNSB")...

End to Foreign Ownership Cap of Brazilian Airlines
Veirano Advogados, December 2018

The Brazilian Federal Government published, on December 13, 2018, Medida Provisória No. 863/2018 ("MP 863/18"), a new rule that amends Federal Law No. 7,565, of December 19, 1986 (Brazilian Aviation Code) and lifts the existing restrictions to foreign capital shareholding in Brazilian air transportation companies. As a result, foreign investors are from now on able to hold up to one hundred percent (100%) of the voting capital of Brazilian airlines...

Amendment of The General Rules on Sales at a Loss and Removal of Franchiser and Distance Sales Company Registers
Veirano Advogados, December 2018

The government has approved, by royal decree-law, a legal reform introducing a number of changes to the Retail Trade Law. Royal Decree-Law 20/2018, of December 7, 2018, on urgent measures to foster economic competitiveness in the industrial and trading sectors in Spain, published in the Official State Gazette last Saturday, December 8, amends Retail Trade Law 7/1996, of January 15,1996...

The Potential Impact of Blockchain and Smart Contracts on the Chilean Telecommunication
Carey, October 2018

Although blockchain and smart contracts are young, still-evolving and need to be tested and improved, they are already promising a revolution in different areas of the economy, and this is not unfounded; both could bring huge improvements across many areas. Imagine being able to get a mortgage, buy an apartment and get the relevant records immediately registered under your name with no need to make legal reviews of these transactions in just one click...

The Halal Market and Agribusiness Investment
Veirano Advogados, July 2018

The international trading market is currently quite favorable to commodity-producing countries such as Brazil. In recent months, the Bloomberg Commodity Index, which tracks daily the performance of main commodities, closed at US$89.49, 1.5% higher than it was at lhe end of 2017 and 6.73% higher than it was 12 months ago...

Patents for Inventions Related to Zika Virus, Chikungunya Virus, and Rare Diseases may have Fast-Track Examination at the BPTO
Veirano Advogados, July 2018

Resolution number 217/2018 was published in the Brazilian PTO’s Official Bulletin number 2470, and amends Resolution number 80/2013, which refers to the fast-track examination for patent applications related to products, pharmaceutical processes, equipment and materials related to public health, aiming to accelerate patent applications considered strategic to the Brazilian Public Healthcare System...

New System of Processing Customs Destination Certificates for Medical Devices Without a Sanitary Registration
Carey, July 2018

In recent months a Customs Destination Certificate (CDA, in its Spanish acronym) will be required for medical devices1that do not have a sanitary registration to be imported into Chile. The CDA must be requested and obtained by the importer through the Institute of Public Health’s (ISP, id.) GICONA 2.0 electronic platform, and will require the payment of an official fee corresponding to the service code 4111027, “Customs Destination Certificate, law 18,164”...

ANTAQ Adapts Rules for Construction and Exploration of Private-Use Terminal
Veirano Advogados, May 2018

Earlier this year, the National Agency of Waterway Transports (ANTAQ) published Normative Resolution No. 20, which approves new rules for the authorization for the construction and exploration of private-use terminal (TUP), cargo transhipment station (ETC), small-size public port facility (IP4) and tourism port facility (IPTur), revoking Resolution No. 3,290. The new rules aim at adjusting the requirements and proceedings applicable by ANTAQ to the changes introduced by Decree No...

Self-regulation and the Financial Self-Regulation Committee
Carey, March 2018

As the Commission for the Financial Market (the “Commission”) came into full force this January (read previous news alert here), the regulation of the Chilean financial market took a step forward in terms of institutionalism and modernization. In this context, one of the changes introduced by Law No. 21,000 (the “Law”), that created the Commission, is the self-regulation of entities in the financial market...

Law that Introduces Modifications to the Regulatory Framework that Rules Water on Inspection and Sanctions Matters
Carey, February 2018

Earlier this year, and five years after being presented before the National Congress, Law 21,064 that “Introduces modifications to the regulatory framework that rules water on inspection and sanctions matters”, was enacted and published in the Official Gazette (Bulletin 8149-09) (the Law). The main modifications introduced by the Law to the current regulatory framework are the following: 1...

COLOMBIA: Legal Developments In Customs & Foreign Trade
Brigard & Urrutia, February 2018

Last year the Colombian Congress issued Law 1841, which incorporated the Free Trade Agreement (“FTA”) between Colombia and Israel into the Colombian legal system. Currently, the law approving the Treaty is under review by the Colombian Constitutional Court for its definitive entry into force...

Insurance, Reinsurance & Pension Funds
Veirano Advogados, February 2018

Legal entities that contract insurance to protect their own assets qualify as consumers within the meaning of the consumer code, says the brazilian Superior Court of Justice (STJ) "[...] the legal entity that takes out insurance seeking to protect its own assets shall be end user of insurance services, thus calling for the application in its favor of the rules provided for in the Consumer Code...

New Decree on Healthy Life Habits Enters Into Force
Carey, December 2017

Earlier this year, Decree No. 1 of the Ministry of Health (herein, the "Decree") was published on the Official Gazette. The Decree sets forth the graphic characteristics of the message for the promotion of healthy life habits that must be included in the advertisement of foodstuff products established in Article 5 of Law No. 20,606 -those that qualify as "High in" one or more critical nutrients- made through mass communication...

Development of Latin America Through Foreign Trade and Investment
Brigard & Urrutia, November 2017

Latin America’s current economic growth levels are among the world’s highest, and the region is preparing its regulations to meet new economic challenges. As such, the fostering of foreign trade and foreign direct investment (FDI) is important to increase GDP growth, create job opportunities, and improve logistics and production...

New Regulations for Submission of PPPs Projects
Bustamante & Bustamante Law Firm, July 2017

The Interinstitutional Committee for PPP has enacted new regulations for submission of PPPs Projects for its analysis and approval. This new regulation contains the minimum requirements and guidelines that a PPP Project must fulfill to obtain the prior authorization of the Interinstitutional Committee for PPP, before the public entity initiates the bidding process...

Supreme Decree N° 2954 on Integral Waste Management
C.R. & F. Rojas Abogados, July 2017

Congress approved Supreme Decree Nº 2954, on Integral Waste Management (the “Regulation”) within the framework of article 344 of the Constitution, which provides that the State shall regulate the internment, production, commercialization and use of techniques, methods, input materials and substances that affect health and the environment...

Brazil: The IDB and Halal food
Veirano Advogados, July 2017

Brazil has a very small Muslim community. In any event, this is a country which, despite economic and/or political crises, foreign investors are always looking at. At this moment, one can see foreign investors acquiring assets in Brazil because of their low prices...

Suspension and/or Blocking for the Access to Forest Origin Document - FOD Module
Veirano Advogados, July 2017

The Federal Environmental Agency (“IBAMA”) published Ordinance No. 01/2017, which provides for the improvement and unification of the procedures of suspension and/or blocking of the access to the Forest Origin Document (“FOD”) module.  FOD is an instrument of the National Control System of the Origin of Forest Products (“SINAFLOR”) for the control of transportation and storage of forest products.  In this sense, Ordinance No...

New Procurement Rules for Argentina's Federal Public Administration
Beccar Varela, July 2017

The purpose of this article is to highlight the principal changes to the rules and procedures governing national public procurements in Argentina, introduced by Decree 1030/2016. The new Regulation does not introduce substantial changes to its predecessor, although it does include some relevant modifications.   Introduction In September 2016, the government of Argentina modified some of the rules and procedures governing national public procurement...

Bidding Process for PPP Project, Port Providencia (Manta-Manaos International Route)
Bustamante & Bustamante Law Firm, June 2017

The Ministry of Transport and Public Works (Ministerio de Obras Públicas y Transporte) of Ecuador, which is entitled of the management of the ports had issued the invitation to the public bidding process...

Chile - Investing, The Private Equity Review - Edition 6
Carey, June 2017

I OVERVIEW The private equity industry has continued to develop in Chile but at rates lower than in previous years. Growth rates of 2.1 per cent for the year ended 31 December 2015 and an expected rate of 1.6 per cent for the year ended 31 December 2016 have certainly affected the investment activity generally. Chile continues to offer, however, an attractive business environment and a stable legal framework...

New Regulation on D&O Insurance - Overview
Veirano Advogados, May 2017

This article discusses new regulation introducing some novelties which in essence incorporate many comments coming from the industry. Some modifications to the legal framework provided for the previous regulation address the following: D&O Insurance; Side B. Coverage; Defense Costs; Individuals as Policyholders; Nominated Risks; Penalties; Environmental Risks.: and Side C. The Official Gazette published a new regulation enacted by SUSEP governing D&O insurance. Circular No...

Federal Government Changes Regulation of Brazil's Ports Law to Unlock Investments in the Sector
Veirano Advogados, May 2017

Following recommendations from a working group formed by the Ministry of Transportation, Ports and Civil Aviation (MTPAC) and discussions with representatives of different interested parties, President Michel Temer recently signed a decree changing the regulations of (Ports Law)...

Chile Offers Manufacturing Incentives to Promote the Development of Lithium Products
Carey, May 2017

The Chilean Economic Development Agency, Corfo, and the Foreign Investment Promotion Agency, InvestChile, have announced the opening of the first call for national and foreign companies, to express their interest in manufacturing lithium products, such as battery cathodes and electrolytes. Companies that are selected will be guaranteed 25 per cent of US producer Albemarle’s lithium production at the lowest cost available in the market...

Brazil: Mergers and Acquisitions and The Halal Industry
Veirano Advogados, March 2017

As published in international media, Brazil is still facing economic problems related, for example, to economic growth rate and unemployment. However, Brazil remains a country where investment opportunities continue to exist. Brazil has the advantage of having a large internal market due to the size of its population and of being well positioned geographically in South America, so the country can be a platform for the export of products to other countries in the region...

Law N°21,000 Establishes the National Financial Market Commission of Chile
Carey, March 2017

On February 23, 2017, Law N°21,000 (the “Law”) was published in the Official Gazette of Chile, creating the Commission for the Financial Market (the “Commission”), a professional body and technical entity that will replace the current Superintendency of Securities and Insurance (“ SVS “). The Law will enter into force in August 2018, or at an earlier date if the Commission becomes operational sooner...

Amendments to the Gas Service Law in Chile and Other Legal Provisions Enter Into Force
Carey, March 2017

The Law that “Amends the Gas Service Law and other legal provisions” (hereinafter, the “New Law” ) entered into force on February 9, 2017. The purpose of the New Law is to fill in the legal gaps existing in a market that, according to the parliamentary discussion, needs to improve the level of competition among their different actors...

My Data, My Rules. An Overview of Data Protection in Brazil
Veirano Advogados, January 2017

Data can be one of a business’s most valuable assets. Market players such as Facebook, Uber, Airbnb and Twitter were built almost entirely on data. Because of the increase in data tracking techniques, countries, companies, and individuals are more and more concerned with how their data – private or professional – is being collected, stored, processed, and transferred...

Law No. 20,956: “Law to Boost Productivity”
Carey, November 2016

On October 26th, 2016, Law No. 20,950, otherwise known as the “Law to Boost Productivity” (the “Law”), was published in the Official Gazette, introducing various modifications to different laws and regulations in order to enhance the country’s productivity through the expansion of the financial system and the promotion of the exportation of services. Main measures for the expansion of the financial system: Several legal provisions of Law Decree No...

Law No 20,950 – Authorizes the Issuance and Operation of Pre-Funded Payment Methods by Non-Banking Entities
Carey, November 2016

Law No 20,590 (the “Law”), that authorizes the issuance and operation of pre-funded payment methods or any other similar system (the “Prepaid Cards”), by non-banking entities, when these systems involve that the issuer or the operator regularly engages in monetary obligations with the general public or to specific sectors or groups thereof, was published and came in force on October 29, 2016...

Supreme Court Confirms That There is Freedom to Determine Interest Rate in Money Lending Operations Agreed and Payable in Foreign Currency
Carey, September 2016

Origin of the case On March 13, 2014, Banco International filed a collection lawsuit (demanda ejecutiva) against Agrícola Santa Fe Limitada, for the non-payment of a loan in dollars, payable in said currency and documented in a promissory note...

Amendments to Chilean Decree With Force of Law No. 211
Carey, September 2016

The Law Decree No. 211 was amended on August 30th, 2016 by Law 20,945 (the “New Law“). The following are the main amendments: Amendments on collusionThe New Law amends the crime of collusion introducing the per se standard to punish hard core cartels, providing evidence of the existence of an agreement being sufficient, independently of the power of the parties in the market and the anti-competitive effects...

Law No. 20,940 That Modernizes Labor Relations
Carey, September 2016

On September 8th, 2016, Law No. 20,940 was published. The law is aimed at the “Modernization of Labor Relations” (hereinafter the “Labor Reform” or the “Law”). The aim of the Labor Reform is to develop labor relations that are more modern, fair and balanced between the parties, and promote dialogue and agreement...

The Anti-Ambush Marketing Policies and the Olympic Games in Brazil
Veirano Advogados, September 2016

It is not unusual for companies to choose famous and prestigious events, such as entertainment awards and sporting championships, as platforms to promote their products and services. The Olympic Games are no different. As the world´s most important sporting event, drawing the attention from individuals all over the world for more than two weeks, the Olympic Games are the perfect scenario for marketing actions...

Doing Business in Peru 2016
Rodrigo, Elias & Medrano Abogados, August 2016

I. For the past 25 years, Peru has been undergoing comprehensive economic growth, followed by a modernizationand development process, which includes the establishment of a reliable legal framework geared towards maintaining the stability required to promote private sectoractivity and investment. This continuous growth has been the best incentive toattract substantial foreign investment in various industries...

Apostille, Towards a Simpler Legalization Process
Carey, August 2016

From August 30th of 2016, the Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents, commonly known as the “Apostille Convention”, and which changes the legalization process of foreign public documents, will enter into force in Chile. This treaty was signed on October 5th, 1961, and on December 2015 Chile completed the procedures to ratify it. In order to enforce this convention in Chile, Law No...

Law Establishes New Power Transmission Systems and Creates an Independent Coordinating Body for the National Power System (Law No. 20. 936)
Carey, August 2016

On July the 27th 2016, Law No. 20.936 that establishes New Power Transmission Systems and creates an Independent Coordinating Body for the National Power System (the “Transmission Law” or “New Law”) was published. Its stated objectives are to ensure that transmission does not become an obstacle to power generation, increase competition in the electrical market and boost the development of non-conventional renewable energies...

Corporate Criminal Liability Act (Law. No. 20,393 or “CCLA”) Amendments: Willful Receiving of Stolen Goods As an Underlying Crime
Carey, August 2016

On July 5, 2016 the Chilean Congress enacted Law No. 20,931 (“Anti-crime Agenda”), strengthening the prosecution of robbery, burglary, theft and willfully or negligently receiving or possessing stolen goods. The Chilean Criminal Code sanctions any individual who knowingly or negligently possesses, transports, buys, converts or trades goods proceeding from theft, robbery, embezzlement and/or cattle theft. Negligent behavior can also be prosecuted...

SVS Establishes New Institutional Investors
Carey, August 2016

On July 27, 2016, the Securities and Insurance Superintendence (“SVS”) issued the general rule 410 (“NCG 410”), which supplements the list of entities that qualify as “institutional investors” according to article 4(e) of the Securities Market Law N°18,045 (“LMV”)...

New Tax Regimes
Carey, August 2016

TAXPAYER REGIME A REGIME B METHOD FOR EXERCISING THE OPTION Public Corporations, Closed Corporations and “Sociedad en Comandita por Acciones”. N/A Mandatory regime. N/A Individual Companies and Individual Limited Liability Companies. Applicable provided the owner of the company is: (i)an individual domiciled or resident in Chile; and/or (ii)an individual or entity domiciled or resident abroad (together as “Final Taxpayers)...

Patent Prosecution Highway Agreement Executed By the Member States of the Pacific Alliance
Carey, July 2016

On July 1st, 2016 the Pilot Patent Prosecution Highway agreement (PPH) executed by the member states of the Pacific Alliance (Chile, Mexico, Colombia and Peru1) came into force.The PPH Pilot Program is an agreement executed by the patent offices of said countries, which allows applicants to request an accelerated examination process of a patent application...

New Law Establishes Environmental Conservation Right in Chile
Carey, July 2016

On June 25th, 2016, Law No. 20,930 that establishes the environmental conservation right was published in the Official Gazzette. The purpose of this law is to create a mechanism to simplify and promote the participation of private parties in the conservation of the environment, as a complement to the work done by the State in these matters. This right has its origin in Comparative Law...

Brexit and Its Effects on Intellectual Property Rights
Carey, July 2016

On June 23rd the United Kingdom (UK)1 decided, by means of a referendum, to exit from the European Union. This decision is known as “Brexit”. According to Art. 50 of the Treaty on European Union, the UK must notify the European Council – which for this purpose represents the EU – of its intention to exit, after which the parties will negotiate an agreement setting out the arrangements of that withdrawal and of the future relationship between the UK and the EU...

Chilean Environmental Evaluation Service Releases New Guide for Determining the Environmental Flow for Hydropower Plants
Carey, July 2016

The Environmental Evaluation Service (SEIA) has published the “Guide for Determination of the Ecological Flow for Hydropower Plants”.The objective of the Guide is to establish uniform criteria for determining the environmental flow regime in hydropower plant projects that are evaluated by the SEIA. The Guide incorporates the use of hydrological criteria, valuation of ecosystem services and anthropic uses, while also taking into account the particular project’s specific characteristics...

FTA with Korea and Costa Rica
Brigard & Urrutia, July 2016

FTAs between Colombia and Korea and between Colombia and Costa Rica will soon enter into force. The FTA between Colombia and Korea will enter into force on July 15. This is Colombia’s first FTA with an Asian country. Through this FTA, Colombia aims to strengthen trade relations with one of the most dynamic regions of the world as well as to attract investment.This FTA is of great importance for the Colombian agricultural sectors, as Korea is a major importer of these goods...

Debate about the creation of a State run Infrastructure Fund starts in Chilean Congress
Carey, June 2016

On June 8, discussion started in the Public Works Commission of the Senate over the law project which creates the state company, “Fondo de Infraestructura S.A.”. The Project shall be approved by a special quorum (quórum calificado) as indicated in article 19 No. 21 of the Political Constitution of the Republic of Chile...

The Risks of Insolvency in Venture Capital
Veirano Advogados, June 2016

The venture capital industry has one goal: making startups incredibly lucrative and, thus, maximizing returns to venture capital investors. For the venture capital investor these outstanding returns are generally materialized 5 or 6 years after the Series A investment round, when the investor makes an exit and the startup either performs an initial public offering of its shares (IPO) or is sold to a strategic acquirer or a private equity fund...

 

 

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