President Piñera in one of his last acts as President submitted a bill for a new Cyber Security Law which is currently being discussed at Congress. The prospective law seeks to establish a protection systems and protocol for the State of Chile, its network, data and infrastructure as well as for those privates that are deemed owners of critical infrastructure (i.e. utility companies, transport, etc.) as well as enhancing the National Security on cyber-related events.

The new legislation intends to prevent attacks as well as implement the necessary measures to assure business continuity and data protection.  In this regard, it includes certain obligations to those bound by this regulation, such as, the need to maintain a register of all actions, implement a continuity plan, periodic monitoring and review of their operations, cyber-attack drills, among others.

Also, the bill contemplates the creation of a National Agency for Cyber Security, which purpose is to advice the President of cyber-related matters, collaborate in the protection of the cyber space, monitor and supervise those public and private entities bound by the new law, among other functions.

Currently, the Bill is being discussed at the Senate and waiting for the expert reviews on the matter to vote on the new legislation.