On February 20th, at a plenary meeting, the State Duma of the Russian Federation unanimously adopted a bill introducing antitrust compliance in the third reading.
On February 26th, the bill was approved by the Federation Council. At a plenary meeting of the Federation Council, senators supported the draft law proposed by the FAS, which is aimed at preventing antitrust risks. Information about this appeared on the official website of the State Duma.
Finally, on March 1st, President of the Russian Federation Vladimir Putin has signed the Federal Law "On Antitrust Compliance", the purpose of which is to help companies reduce antitrust risks and prevent violations of the law.
The concept of "an internal system for ensuring compliance with the requirements of antitrust law" is introduced into the Law on Protection of Competition, which is designed to explain to companies what internal acts they need to adopt in order to monitor compliance with antitrust standards.
To check the documents for compliance with the law, companies can forward them to FAS Russia. FAS will take into account the implementation of the antitrust compliance system when classifying an enterprise into one or another category as part of a risk-based approach in monitoring compliance with the law. A response from FAS Russia will be received within 30 days.
The new law will not only bring the necessary clarity to other legal norms, but will also help reduce the risk of cartel formation, save companies from fines, and officials from possible liability.