ARTEM MOLCHANOV: CONTROL OVER ECONOMIC CONCENTRATION IS IMPORTANT FOR PROTECTING COMPETITION IN NATIONAL MARKETS
FAS is developing a new draft of recommendations for reviewing mergers and acquisitions
On the 13th of May a discussion was held on a draft Explanation of the Specifics of State Antimonopoly Control over Economic Concentration.
The document being developed will address the types of transactions and other actions that subject to Antimonopoly control, the grounds and procedure for extending the period of consideration of the application. Besides, the specifics of market analysis, the regulator's requests to the applicant, participants of transaction, interested parties and other agencies, as well as the procedure for making a decision by the Antimonopoly Service will be disclosed. A specific Chapter will be devoted to the legal consequences of failure to comply with injunctions of the FAS Russia and the procedure for challenging the transaction in the court.
"In modern conditions, the task of improving the effectiveness of economic concentration control is reaching a new level and is relevant for ensuring the protection of competition in national markets. In this regard, the analysis of practice and enhancing of certainty of antimonopoly enforcement in this area are of crucial importance. With these recommendations, we would like to respond to many questions that are regularly received from companies. We refer to official documents and antimonopoly practices in this document", - said Artem Molchanov, Head of the Legal Department of the FAS Russia.
Representatives of structural Departments of the Federal Antimonopoly Service took part in the discussion in video-conference format.
Reference:
Control of economic concentration is one of the main areas of antimonopoly control, along with consideration of cases on violation of Antimonopoly legislation, issuing warnings and admonitions.
Changes in concentration could be associated with both lawful actions (inaction) of participants of the commodity market, and could result from monopolistic activities: creation of cartels, abuse of a dominant position. All this can lead to changes in the state of the market and the shares of economic entities operating in it.
The main tool for controlling economic concentration by the Antimonopoly authority is the power to allow or prohibit the relevant transaction, as well as imposing on its participants additional conditions (regulations) of a structural or behavioral nature.