Chile takes action against SQM board – Alert
Sociedad Química y Minera de Chile SA (SQM) reports that the Chilean Superintendence of Securities and Insurance initiated an administrative process against the five current members of SQM’s board of directors for allegedly failing to provide the market with information that could be relevant for investment decisions in a timely and reliable manner. SQM said the information is mainly related to the preliminary estimate of the potential impact on the company’s financial statements of certain expenses paid by SQM between 2009 and 2014 and that may not qualify as tax expenses under the Chilean tax code, due to insufficient supporting documentation.