On March 1, 2020, the Russian president signed a bill on antitrust compliance initiated by the Federal Antimonopoly Service (FAS). From now on, business entities must adopt internal acts on compliance with antitrust laws.
According to the FAS, the new rules will contribute to the development of mechanisms to prevent violations of antitrust laws
Russian enterprises will have to implement an internal system to ensure compliance with the requirements of antitrust laws. The law determines the organization of such a system and the basic requirements for internal acts.
An enterprise may send an internal act or a draft act to the antimonopoly service, which forms a system of compliance with legal requirements. The service must give its opinion within 30 days.
The act must include:
– the procedure for assessing the risks of violation of antitrust laws within their business activities;
– measures aimed at reducing the risks of violation of antitrust laws;
– measures for self-control over the functioning of the system of internal ensuring compliance with the requirements of antitrust laws;
– the procedure for awareness employees of a company with the specified internal acts;
– information about the company official responsible for the functioning of the internal system.
The company will post information about the adopted act on its website.
According to the head of the Federal Antimonopoly Service, FAS will consider the introduction of such a system when classifying an enterprise into one or another risk category.