A reform of company law in Chile designed to create a strong venture capital market does not go far enough, according to leading Chilean financial experts.
In July, the government of Michelle Bachelet, who became Chile’s first female president in March, introduced a bill to congress that would allow the creation of limited partnership companies. The new type of company, called sociedad por acciones (equities company), would more clearly separate the role of shareholders and managers.
Under the proposed law – expected to be approved by congress before December – shareholders in the new type of company...
