THE STATE DUMA PASSED THE DRAFT LAW ON ANTIMONOPOLY COMPLIANCE IN THE III READING

The law was drafted by FAS to execute the 2018-2020 National Plan for Developing Competition in the Russian Federation

On 20 December 2019, the plenary session of the State Duma of the Russian Federation conclusively adopted a draft law on introducing antimonopoly compliance in the final, third reading. Members of the Parliament unanimously supported the draft law.

The new law defines the concept of antimonopoly compliance, establishes the procedure for organizing antimonopoly compliance by economic entities and specifies the basic (minimum) requirements to the content of the in-house acts of economic entities that form a system of antimonopoly compliance.

Deputy Head of FAS Sergey Puzyrevsky said: “Antimonopoly compliance is an efficient tool to prevent and forestall violations of the antimonopoly law and reduce antimonopoly risks for economic entities”.

The goal of antimonopoly compliance is to decrease the risks of violating the antimonopoly law. The draft law underlines that the acts devised by economic entities on introducing compliance can be forwarded to FAS in order to obtain opinions whether these acts conform to the norms of the antimonopoly law, which should also facilitate increased certainly and validity of operations of economic entities.

Also, FAS will take into account, whether economic entities have implemented antimonopoly compliance, classifying their operations under particular risk categories as an essential element of the risk-oriented approach applied to control observance of the antimonopoly law.