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Chile's TDLC fines Banco de Chile, Cosorcio over interlocking directorates

( June 6, 2025, 23:00 GMT | Official Statement) -- MLex Summary: Chile's competition tribunal, known as the TDLC, has penalized Banco de Chile and Consorcio with fines totaling $3.5 million and $1.7 million, respectively, for simultaneous board participation by Hernán Büchi Buc as a director and relevant executive in both competing firms. The prohibition on the interlocking directorates "seeks to prevent the risk of information exchange between competitors or the elimination of the uncertainty inherent in a competitive market, which may arise when the same individual simultaneously holds key positions in competing firms," TDLC said in a statement.Statement follows below: ...

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