leyDelitosEconomicos.heroTitle

The new legislation categorizes offenses committed under CMF supervision as first-class economic crimes. Additionally, it incorporates disqualifications for holding managerial positions or any entity derived from decree law No. 3,538, which creates the CMF, or in a state-owned company or one in which the state has a majority stake. Likewise, regarding the confiscation of profits (article 47 of law No. 21.595), regarding exceptions to the exercise of civil action (these being; exception of lack of direct relation between damage and profits, exception of negligent execution, and exception of inadequate execution), for the identification of the defendant's assets, the Public Prosecutor's Office, at the request of the State Defense Council, is authorized to request information from the CMF.

Amendments are introduced to law No. 18.045 in articles 59 to 62 regarding the penalties applied by virtue of the type of offense committed as described in these provisions.

The rules of cooperation with the clarification of the punishable act included in decree law No. 3,538, which creates the CMF, will be considered as mitigating factors for economic crimes.

Among the amendments to the Penal Code, the sanctions and acts carried out under the one that within the two years prior to the issuance of a liquidation resolution referred to in law No. 20.720, which replaces the current bankruptcy regime with the law of business and personal reorganization, or during the time between the notification of a compulsory liquidation lawsuit and the issuance of a resolution, the one who, knowing the poor state of their business, commits the described offenses.

Modifications are introduced to law No. 18.045 in articles 59 to 62 regarding the penalties applied by virtue of the type of offense committed, considering them first-class in addition to the modifications made in the General Banking Law and those of the Law on bank current accounts and checks.

The economic crimes provided for in articles 14 section two, 110, and 160 of the General Banking Law will be classified as second class, provided that the act was perpetrated by reason of one's position, function, or role in the company, when it is for economic benefit or of another nature for a company.

Law No. 21.595 toughens the penalties for those who misappropriate money from social security contributions, that is, retaining workers' funds and not paying health or pension contributions.

It also adds the crime committed by an employer who, without a worker's consent, fails to withhold or pay this worker's provisional contributions or declares to the social security institutions that they pay a taxable salary lower than the actual one.

The regulations impose fines, but also, depending on the amount defrauded from the worker, in the most severe cases, they can be sanctioned with prison sentences of up to 5 years.

Under article 2, in its number 22, articles 19, 23, and 25, 61 bis twelfth paragraph, and 159 of decree law No. 3,500 will be considered second-class crimes, and by article 53 of the new law, the scopes indicated in the modifications to decree law No. 3,500 of 1980, which Establishes a New Pension System, are introduced.

Law No. 21.595, in its first article, number 8, identifies that economic crimes committed with respect to article 49 of the decree with the force of law No. 251 of 1931, from the Ministry of Finance, concerning Insurance Companies, Public Limited Companies, and Stock Exchanges will be identified as first-class crimes with the respective sanctions and fines issued by this regulation.

Regarding the Confiscation of Profits, and for the purposes of identifying the assets of the responsible party, the Public Prosecutor's Office, at the request of the State Defense Council, will be authorized to require the relevant information from insurance companies, this in light of the exceptions to the exercise of civil action; exception of lack of direct relation between damage and profits, exception of negligent execution, and exception of inadequate execution.