OREANDA-NEWS. On November 14, 2007 the Federal Antimonopoly Service (FAS Russia) brought administrative charges against Prosperity Capital Management Limited for breaching Article 28 and 32 of the Federal Law "On Protection of Competition" and imposed a fine of 1,100,000 Rubles, reported the press-centre of FAS Russia. 

Earlier Prosperity Capital Management Limited asked FAS Russia to allow the transactions, which would enable the petitioner to obtain voting rights shares of 17 Russian companies.

Having considered the petitions, FAS Russia established that by the time of submitting documents to the antimonopoly authority the transactions had been already concluded without prior consent of FAS Russia.

Therefore, the company violated the antimonopoly legislation.

Taking into account, however, that Prosperity Capital Management Limited voluntarily informed FAS Russia about the committed administrative offence, the company qualified for minimum penalty.