On 11 December 2018, Attorney Ricardo Wolfgang Riesco Eyzaguirre took over the post of National Economic Attorney.
A month and eight days after the four years since he took office, there is concern among free competition lawyers about who will take over as his successor if he doesn’t continue for a second term. In fact, pursuant to article 33 of Legislative Decree 211, the office of national economic attorney can be extended for a further period, as long as they express an interest in continuing and receive the support of the government in power.
His incumbent predecessor, Felipe Irarrázabal, served two terms at the helm of the FNE. During Piñera’s first term, he was appointed and later continued in office after the confirmation of Michelle Bachelet’s second government.
The national economic prosecutor, Ricardo Riesco, declined to answer the questions for this article.
Wrist contacted 11 lawyers who usually dispute in court for the defense of free competition and who assist large companies. In principle, all, albeit with nuances, have a good opinion of Riesco’s work at FNE. They also believe the institute is demanding more funds and are calling for faster investigations. They also highlight their work during the pandemic.
Julio Pellegrini, partner of Pellegrini & Rencoret, stated that “all procedures have room for improvement. I think we could have done better in the way of putting the latest legal reform into practice, such as having a clearer position in relation to interlocking or in the way of advertising market studies, to avoid confusion among citizens ”.
For Rodrigo Díaz de Valdés, partner of Baker & McKenzie, the actions of the FNE under the mandate of Riesco “were relevant in the persecution of the executives in the case of the cartel, which demonstrates the intention to tighten the sanctions against this type of behavior. From an organizational point of view, the creation of the Exams Division stands out, which aimed to ensure compliance with the resolutions of the TDLC and the agreements with the Prosecutor itself. Finally, it was able to conclude the application of the 2016 reform with great success, consolidating the merger control system and market studies that have marked the legislative agenda (gas market, public purchases and medicines) “.
However, he also believes that “the biggest shortcoming was the delay in the ongoing investigation”.
Javier Velozo, partner of Contreras Velozo stressed that “the shortcomings that the FNE has shown in recent years have to do exclusively with the lack of resources. It is time to decisively strengthen the Prosecutor’s Office with more professionals. It’s urgent”.
“The National Economic Attorney has managed to lead the challenges posed by the pandemic in a positive way, mainly by maintaining a timely response in case of mergers and litigation,” said Vanessa Facuse, partner of Bofill, Escobar Silva.
Along the same lines, María José Henríquez, partner of Morales & Besa, said she had “a good evaluation of Ricardo Riesco’s management. The Prosecutor’s Office gave continuity to the quality of the Prosecutor’s work in a complicated context, in which the FNE budget was not consistent with the increase in investigated cases. I emphasize in particular the legislative interventions in which the Prosecutor has demonstrated a deep knowledge of the system and conviction of its benefits. He also had a timely intervention in the constitutional discussion in defense of the compensated denunciation system ”.
José Miguel Gana, partner of Gana & Gálvez Abogados, described Riesco as “a serious person who tried to do his job according to the guidelines of that institution”. “We have tried to channel the shortcomings we have seen through the mechanisms contemplated by our free competition system,” he added.
Meanwhile Luis Eduardo Toro, partner of Barros y Errázuriz, explained that Riesco was responsible for a management that was perhaps not very lucid, because he had to face the pandemic and the closure that this entailed in the courts, the difficulties of investigation, etc., however. , the Prosecutor’s Office continued to function, especially in terms of merger control. “It seems a little unfair to prosecute him, even though he has had a couple of unfortunate controversies, in my opinion, like the one he had with the National Prosecutor’s Office.”
The experts were also asked about the profile that Riesco’s potential successor should have, in the event that he does not continue in a second term.
Cristián Reyes, senior adviser to Aninat Abogados, said that “the new prosecutor should maintain the tradition in our system, in the sense of having a high technical profile, independent of his political position, which allows him to act in a rational, well-founded way. and effectively facilitating decisions, current and potential competition, as well as inclusion and innovation ”.
“For several years the FNE has been characterized by being led by professionals who are more technical than political, with knowledge of free competition, regulation and economics. A wish in this new appointment is that it remains so. It would be a serious mistake to put aside that approach of specialization and independence that has led the FNE to acquire international prestige, placing itself as a serious, effective and reasonable agency, but, above all, to become a reliable institution on a national level. international. The initiation, development and completion of investigations must be kept separate from purely political issues or pressures external to the institution. An institution with the current characteristics of the FNE also manages to attract talent and, after all, the institutions are their people. It would be ideal for the new head of the prosecutor’s office to keep that north, ”said Mabel Ahumada, partner of Ferrada Nehme.
For her part, Carla Bordoli, a partner of Bordoli Doren, added that “the future prosecutor should keep the technical profile of the FNE. Nonetheless, he should manage the possibility of increasing the staff of the FNE as the work has increased significantly ”.
Along the same lines, Juan Cristóbal Gumucio, partner of Cariola, stated that “institutions are strengthened when they transcend their headquarters. The professional and technical profile of the FNE has been built over time thanks to successive prosecutors who have privileged serious and independent work. It is desirable that those who will direct the FNE in a new period have the technical skills and leadership to further strengthen this institutional trajectory, favoring professional work of excellence ”.
