FAS REGIONAL OFFICES ARE INVOLVED IN CONTROL OVER FOREIGN INVESTMENTS

On 18 April 2018, Deputy Head of FAS Andrey Tsyganov held a teleconferencing on “Exposing unlawful control of foreign investors. Investment compliance”, where experts of the Central FAS Office on control over foreign investors shared their knowledge and experience with the senior officers of FAS regional Offices.

Participants summed up the results of enforcement of No. 53-FZ Federal Law and set the goals on identifying the need for pre-approving transactions under  consideration of regional OFAS, by the Government Commission for control over foreign investments in the Russian Federation.

“In ten years of applying the law, the staff of FAS Department for Control over Foreign Investments have proven themselves to be high-class specialists.  It is emphasized by FAS leadership and the Government of the Russian Federation”, said Andrey Tsyganov. “Although control over foreign investments falls under the competence of the Central Office, the colleagues from regional Offices also are vigilant, informing us about the deals that potentially can lead to emerging threats to national defence and state security”.

Following the meeting, Deputy Head of FAS recommended the staff of FAS regional Offices to approach for consultations directly the Department for Control over Foreign Investments should there be any facts indicating the need to approve transactions under No. 53-FZ Federal Law. Experts of FAS Central Office are set the goal to draft the guidelines for identifying transactions subjects to pre-approval by the Government Commission, and regional Offices should start compiling the “Register of strategic societies”, which will simplify application of No. 53-FZ Federal Law significantly.

Head of FAS Department for Control over Foreign Investments, Olesya Milchakova, and her Deputies, Grigory Karakov and Alexander Poroshin, also took part in the event.