This new concept for Russian business was formalized in 2020 and has not yet become widespread.
Antitrust compliance should be understood as "a set of legal and organizational measures aimed at compliance with the requirements of antimonopoly legislation and prevention of its violation".
In other words, compliance is both an internal regulation of the company and a whole system of requirements that will allow the company to comply with it.
Who would need it?
Any Russian company that operates in Russia or abroad.
And here is why.
The Law on Protection of Competition extends its effect “to relations regarding protection of competition, including the prevention and suppression of monopolistic activities and unfair competition”.
Thus, company's risks associated with non-compliance with antitrust laws arise on a daily basis while conducting business, from the distribution of advertising of the goods and services offered to the market to participation in public procurement or a merger with another company.
How to get prepared?
- First of all, it is necessary to assess antitrust risks.
- Further, develop measures to reduce risks and formalize them in the form of an internal document, develop standard documents and letter templates, programs of seminars and trainings for employees. At the same time, according to the Law, the development and implementation of an antimonopoly compliance system is completely voluntary.
- Identify persons in charge for compliance with the developed measures.
- The company also has the opportunity to send the prepared document for verification to the Federal Antimonopoly Service. According to the Law, the audit is carried out within 30 days and, based on the results, a conclusion is issued on compliance or non-compliance with the requirements of antimonopoly legislation with instructions for eliminating.
- To familiarize all employees with the new local regulation.
- Disclose in Russian a set of antimonopoly measures on the company's website.
By implementing antitrust compliance, you reduce the risk of violation of the law and further prosecution. If the case does come to a dispute, you will have substantial evidence that you have taken all possible measures.
In addition, the Federal Antimonopoly Service of Russia will inspect your organization less often if it knows that you are monitoring compliance with antimonopoly rules on your own: inspections will occur every five years or not at all.
Interested in implementing antitrust compliance? It is very interesting, and our specialists will be happy to advise you and individually develop such system!