Russia’s Government approves FAS-sponsored bill on antimonopoly compliance
MOSCOW, August 30 (RAPSI) – The Russian Government has approved a bill on antimonopoly compliance, a system of measures aimed to prevent companies from infringement on antimonopoly legislation, according to the Federal Antimonopoly Service (FAS), the initiator of the move.
The bill is to introduce new concepts in the law on protection of competition and improvement of non-compliance prevention mechanisms.
Antimonopoly practices based on the legislation, FAS-sponsored document reads, envisage penalties and criminal responsibility for antitrust violations, as well as tougher control over the activities of natural monopolies and companies dominating on markets.
An element of the proposed general mechanism is to be the development and introduction of antimonopoly compliance, a system of internal safeguards ensuring the compliance with the requirements of the antimonopoly legislation.
The document is to be submitted to the State Duma, the lower house of the Russian Parliament, for approval.