FAS CLARIFIES INFORMATION ABOUT ACCESS TO BANK SECRETS
FAS has drafted a law, according to which antimonopoly authority can obtain access to information on particular companies that constitutes bank secrets when investigating cartel cases
Such access can be provided only upon a reasonable request of the Antimonopoly Service and exclusively on economic entities under investigation for some signs of participating in a cartel.
Information about movement on accounts is necessary as cartel evidence.
Requests will be filed in accord with the procedures agreed upon and approved by the Central Bank of the Russian Federation.
The draft law does not apply to accounts of physical persons and legal entities not implicated in particular investigations of legal entities.
Currently, the Federal Law “On Protection of Competition” (Part 1 Article 25 and Part 6 Article 44) allows the antimonopoly body to request information that constitutes bank secrets. FAS is obligated to observe such secrets.
The draft law is designed to unify the antimonopoly law and the Law “On banks and baking”.