Anti-Monopoly Compliance Bill passes third reading

If a company decides to apply these measures, it will need to adopt one or more local resolutions containing:

• requirements for assessing the risks of antitrust infringement;

• measures to mitigate these risks;

• measures to oversee the application of antimonopoly compliance;

• the procedure for familiarising employees with the said local resolutions;

• information about employees responsible for antimonopoly compliance.

Companies will have the right to:

• include additional provisions in their local resolutions;

• send resolutions or their drafts to the FAS for review. The Service will review these documents within 30 days and issue its opinion;

• not to adopt its own resolutions but to use someone else's. This is permissible if, for example, the company is part of the same group as another organisation whose acts also apply to the company in question.

Information on the adoption (application) of the resolutions will need to be posted on the company's website in Russian language. It should be noted that the government is already encouraging the introduction of anti-monopoly compliance into the work of legal entities. For example, its application for at least one year is one of the conditions for lowering the risk category of state control over compliance with antimonopoly legislation. Introduction of antimonopoly compliance will lower a company’s category to medium or moderate.

Information according to ConsultantPlus.

You & Partners Press Service

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