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Federal Antimonopoly Service of the Russian Federation

Russian Version

FAS RUSSIA: TINKOFF BANK EXECUTED SERVICE'S WARNING

20-03-2024 | 10:45

The bank stopped distributing a video on YouTube about brokerage services that contained an incorrect comparison

Earlier, the FAS Russia received an appeal from the Bank of Russia about signs of violation of antimonopoly legislation in the video of Tinkoff Bank JSC, which is broadcast on YouTube. A comparative turnover "And the best in our time is Tinkoff Investments" is used in the materials without specifying objective comparison criteria.

According to the FAS Russia, such actions may contribute to obtaining unjustified advantages over competitors and contain signs of violation of the Law on Protection of Competition.*

The FAS Russia has issued a warning to Tinkoff Bank JSC on termination of actions containing signs of violation of antimonopoly legislation.

Tinkoff Bank JSC submitted to the FAS Russia a report on execution of the warning. The bank deleted the video from its YouTube channel and posted a press release on its official website indicating objective comparison criteria.

Reference:

* Article 14.3 of the Law on Protection of Competition

Related department
Department for control over financial markets

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