Chile: FNE to probe Notary Public market

Chile’s National Economic Prosecutor (FNE) announced that it will start a study on the notary market. This probe will seek to evaluate the competitive evolution of this sector, which is carried out in 327 notaries throughout the country.

According to the Office of the Prosecutor, it is a market that, apparently, is highly regulated. However, it exhibits several aspects that should be competitive, for which there is limited public information to assess the level of competition.

“We recognize the contribution that notaries make to public faith and to business security. However, there is very little public information available on how the notaries market operates from the point of view of competition and the objective of this study is to know how this activity has evolved and how it is currently being developed, thus increasing the chances of detecting possible competitive failures and proposing measures to improve them” said the head of the FNE, Felipe Irarrázabal.

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