Focus on compliance plans and challenges of the industry

In September 2021, the National Consumer Service (SERNAC) — the supervisory body in Chile for compliance with regulations on the protection of consumer rights — issued an interpretive circular addressing the implementation of compliance plans by suppliers of products and services. The compliance plans are business self-regulation tools adopted to prevent, avoid and mitigate the risks of infringement of current legislation and consumer rights.

The two circulars recognise two levels of compliance plans: preventive and corrective. To properly implement both, it is crucial to create and foster a culture of regulatory observance. Additionally, there should be the concurrence of two factors which complement and strengthen each other — a high level of commitment at the managerial level and that the compliance plans go beyond the purely regulatory aspects but that drawn up following the organisational culture and values.

The observance of both conditions is crucial to guarantee that the compliance plan is not perceived as an imposition but rather as a natural practice that allows for effective compliance management.

The Consumer Protection law recognises, as a mitigating cause of responsibility, having a specific compliance plan to monitor potential infractions within the company. Should extenuating circumstances be the primary motive that pushes an organisation to build and sanction its compliance plans?

The answer is no. This tool should be seen more like a powerful instrument that allows us to pursue our vocation, centred on people and clients. Compliance plans must be a commitment to excellence in the service we provide.

In short, when companies have a robust organisational culture, we can count on service providers with a vocation for excellence, assuming a responsible and active role in protecting consumers and their essential rights.