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Andrey Tsarikovskiy: compliance is an efficient system of inner control*

28-02-2017 | 18:05

Stats-Secretary, Deputy Head of FAS Andrey Tsarikovskiy made this statement to the participants of the IV National Practical Conference on In-House Control and Audit in Russia” on 28 February 2017

To reduce the risks of violating the antimonopoly law, Andrey Tsarikovskiy recommended top corporate executives to employ this tool: “Developing enforcement practice, turnover fines, and criminal liability for anticompetitive conduct - all this should motivate corporate leadership to search for the risk-protection methods”.

He added: “Adopting compliance as the inner code of corporate rules is a world-wide trend. Thesystemisaimedprimarilyatpreventingviolations”.

Deputy Head of FASemphasized that the Antimonopoly Service welcomes the companies’ aspiration to adopt their own antimonopoly compliance since such a voluntary programme reduces the number of violations of the competition law, which will decrease the overall number of cases opened by FAS and will continue the “preventative control” trend of the antimonopoly authority.

* Compliance – corporate programme on observing the antimonopoly law

 



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