DRAFT LAW ON COMPLIANCE IS GETTING READY FOR CONSIDERATION IN THE FIRST READING
The documents is discussed by the Economic Policy Committee of the Federation Council
Deputy Head of FAS Sergey Puzyrevsky pointed out at the Council that the draft law falls under execution of the National Competition Development Plan1.
The draft law includes a concept of a “system of in-house conformity to the antimonopoly law” in the Federal Act “On Protection of Competition”, the procedure for organizing such a system by economic entities and determines the main requirements to the content of in-house acts that form a system of in-house conformity to the norms of the antimonopoly law.
Drafting and introducing a system of in-house compliance with the norms and standards of the antimonopoly law by companies is a tool of preventing and avoiding violations of the antimonopoly law and reducing the antimonopoly risks for economic entities.
In Russia antimonopoly compliance is adopted by individual economic entities.
Sergey Puzyrevsky informed that the draft law provides for economic entities submitting their draft acts on organizing a system of in-house conformity to the antimonopoly law to FAS.
Deputy Head of FAS emphasized that voluntary participation is the main principle of introducing the system.
He pointed out that implementing a compliance system will be taken into account by the antimonopoly authority to classify an economic entity under a particular risk category when applying a risk-oriented approach to control conformity to the antimonopoly law.
According to the draft law, FAS considers such acts and gives an opinion whether they comply with the antimonopoly law.
“Adopting the draft law will enhance efficiency of antimonopoly regulation and create additional mechanisms stimulating economic entities to take measures in order to prevent violations of the antimonopoly law”, concluded Sergey Puzyrevsky.
Background:
1 Draft Federal Law “On introducing amendments to the Federal Law “On Protection of Competition” is devised to execute the instructions specified in Sub-Clause “h” Clause 4 of 2018-2020 National Plan for Developing Competition in the Russian Federation, approved by No. 618 Order of the President of the Russian Federation of 21.12.2017.