New laws vital for OECD bid

June 18th, 2009


Chile’s bid to be the first South American member of the Organization for Economic Cooperation and Development by the end of this year could be dashed if lawmakers don’t change bank secrecy laws ”as soon as possible,” the OECD’s legal chief said.

Chile also needs to ratify international anti-bribery rules and should seek changes to the corporate governance of state-owned Codelco, the world’s biggest copper mine, Nicola Bonucci, director of legal affairs at the OECD in Paris, said in a telephone interview.

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