The details of an anti-monopoly compliance system will be established at the legislative level in Russia.
On 5 September 2019, a new bill* was submitted to the Russian State Duma to encourage companies to develop and implement compliance systems (i.e. measures that facilitate compliance with anti-monopoly laws and prevent breaches of these laws).
Setting up an anti-monopoly compliance system will not be mandatory under the new law. If a company decides to do so, however, it will have to adhere to the system’s special requirements for the content of internal documents produced within the company or company group.
Specifically, these internal documents must include requirements, measures and procedures for:
- assessing anti-monopoly risks;
- reducing anti-monopoly risks;
- monitoring the compliance system;
- making the compliance system known to employees; and
- providing information about the person in charge of the company’s compliance system.
Companies will have to post information in Russian on their websites, stating whether an anti-monopoly compliance system has been adopted or applies to that company. (Note that compliance would apply to the company if another company in the same corporate group adopted the system).
If the bill is passed, companies will be able to send internal documents of this kind in final or draft form to the Russian Federal Anti-monopoly Service (FAS) to confirm their compliance with anti-monopoly laws.
Many companies have already adopted similar systems since it is public knowledge in Russia that the FAS advocates the introduction of anti-monopoly compliance in the belief that this will reduce violations.
If you have any questions on this eAlert, do not hesitate to contact CMS Russia experts Maxim Boulba, Elena Andrianova and Maria Ermolaeva or your regular contact at CMS Russia.
* In Russian