Chilean leader enacts tougher campaign finance law

Chilean President Michelle Bachelet Monday enacted a new tougher campaign finance law that for the first time punishes public officials who violate norms.

"Starting today, we are drawing a clear line for those who aspire to hold public office. We are telling those who have been elected to represent our fellow nationals that if they break the campaign financing rules, they will lose their jobs," said Bachelet.

Lawmakers, mayors or city councilors found violating the new rules will be barred from holding public office for three years and from running for an elected post in two consecutive elections.

The new law is part of the government's new push to promote transparency by adopting 14 new measures and norms.

"We are just sending out one message ... he who cheats, loses," said Bachelet.

The initiative emerged following revelations that a large number of lawmakers from across the political spectrum received funding from private companies in 2013 to illegally finance their election campaigns. Endi