Sources claimed that these funds were to sway Congress to vote in favor of the new Fisheries Law, which favors large companies over independent fishermen.

Due to these revelations, various executives and former members of parliament are under house arrest while the investigation continues.

During their speeches, Nunez and Walker asked President Bachelet to freeze parliamentary allowances, which are higher than those paid to members of many European parliaments.

They also focused on the need to promote transparency in the work of parliamentarians, while announcing the creation of a new code of ethics.

Stating that the government mulls to freeze the allowances from January 2016, the leaders also declared that being a member of parliament was a full-time job that leaves no room for other business activities.

An active democracy "requires honest institutions and representatives, subject to the highest possible standards of control," said Nunez.

"If we are part of the problem, we have to be part of the solution," added Walker. "This is an opportunity to show the people what we do and to mend what we need to fix."

"For many times, we have not been those that the citizens expected from us. There has been evidence of practices in the political and business arenas that we have decided to eradicate. What was tolerated yesterday is no longer acceptable today," he concluded.