Chile's Senate recorded a 23-23 tie on Wednesday on the rule allowing the lifting of banking secrecy in the economic intelligence bill. The decision was postponed to next Tuesday's session. Finance Minister Jorge Quiroz announced he is studying an initiative to speed up the process always under judicial control.
The vote took place during the Senate floor session on the reform creating a financial intelligence subsystem to detect money laundering. The 23-23 tie held after a second vote, so the matter will be resolved in the next ordinary session according to Senate rules. Four senators did not participate in the vote. Loreto Carvajal and Rojo Edwards were paired due to an official trip. Alfonso de Urresti paired with Sergio Gaona, who voted against. Miguel Ángel Calisto, present for other votes, did not register a preference. Deputy Finance Minister Juan Pablo Rodríguez defended judicial oversight. He noted that requests from the Financial Analysis Unit are resolved within three days and that the pre-criminal stage requires privacy safeguards. Minister Quiroz said the Treasury is preparing an initiative to improve legislation while ensuring that lifting secrecy depends on the Court and the judiciary. The reform will anyway be sent to a joint committee.
