One of Chile’s biggest strengths is its sound macroeconomic framework that supports its economic resilience. The Financial Market Commission (CMF) which was formed in 2017 oversees more than 70% of the regulated financial assets in Chile.
The privatised utility services companies and operations are overseen by regulators dedicated to each sector, as follows:
● The privatised and concessional water and wastewater services are overseen by the Superintendence of Sanitary Services (SISS).
● Energy is overseen by the National Energy Commission (CNE)
● Telecoms by the Undersecretary of Telecommunications SUBTEL.
Large scale infrastructure projects will always require an approved environmental impact assessment before the project can commence. The regulatory body responsible for the overseeing and issuing of permits is Environmental Evaluation Service (SEA). Companies who are involved in this type of work should ensure that sufficient finances and time are allowed for this process, as significant delays are normal due to the high number of applications.
Consumers are protected under the surveillance of an ombudsman SERNAC, who has the final say in all disputes relating to consumers rights.
