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LatinNews Daily - 23 January 2017

Mexico appoints new ambassador to US

Chile: On 13 January, the US Justice Department (DOJ)’s Criminal Division Assistant Attorney General Leslie Caldwell, announced that the Chilean chemicals and mining company, Sociedad Química y Minera de Chile (SQM), had agreed to pay a criminal penalty of almost US$15.5m after providing illegal payments to politically connected foundations and individuals in Chile in violation of the US Foreign Corrupt Practices Act (FCPA). According to a DOJ press release, between 2008 and 2015, the company made contributions of nearly US$15m to Chilean political figures and others connected to them, and often disguised them as consulting and professional services. The statement notes that the resolution was based on various factors, including the fact that SQM did not voluntarily disclose the FCPA violations, but did cooperate with the department’s investigation after news of Chilean prosecutors’ investigation of the company surfaced in media reports. SQM received a 25% reduction off the low end of the applicable US Sentencing Guidelines fine range because of its full cooperation and substantial and ongoing remediation. Furthermore, in another settlement with the US Securities and Exchange Commission (SEC), SQM, whose stocks are traded in the US, has agreed to pay a retribution of US$15m.

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