OREANDA-NEWS. February 28, 2008. The Moscow Arbitration Court dismissed the claim of "Rus-Bank OJSC (which was a Closed Joint-Stock Company at the time of entering in the agreements) on invalidating and revoking the resolution of the Federal Antimonopoly Service (FAS Russia) to impose administrative charges upon the bank for failure to notify FAS Russia within the statutory period about the agreements with "Rosgosstrakh-Centre" Ltd., reported the press-centre of FAS Russia. 

Under Part 9 Article 35 of the Federal Law "On Protection of Competition", financial organizations must notify the federal antimonopoly authority about all agreements, in any form, between them except the agreements between financial organizations whose aggregate share on the goods market is below the standard established by the Government of the Russian Federation; the agreements on offering financial services; or the agreements made by a financial organization in the normal course of business. At the same time, under Part 12 Article 35 of the Law, a person that concluded an agreement is responsible for notifying the federal antimonopoly authority on entering into an agreement in writing within 15 days after the agreement was reached.

In October 2007, "Rus-Bank CJSC and "Rosgosstrakh-Centre" Ltd. concluded several agreements, whose subject matter was cooperation and interaction between the bank and an insurer; searching for prospective clients (insurants); qualified consulting of the insurants on the issues of insurance я; assisting the insurants in collecting the documents required for the insurance agreements.

"Rosgosstrakh-Centre" Ltd. submitted an appropriate notification to FAS Russia within a statutory period. "Rus-Bank CJSC failed to send its notification which directly violated Part 12 Article 35 of the Federal Law "On Protection of Competition".

Upon revealing the violation, FAS Russia instituted administrative proceedings against "Rus-Bank CJSC and fined it 150 000 Rubles under Part 4 Article 19.8 of the Code of Administrative Violations of the Russian Federation.

"Rus-Bank CJSC appealed against the resolution of the antimonopoly authority, assuming that it should not have notified the antimonopoly authority about the agreements, concluded with "Rosgosstrakh-Centre" Ltd., because they were covered by exceptions provisions in Clauses 1 and 3 Part 9 Article 35 of the Law "On Protection of Competition".

The Moscow Arbitration Court dismissed the arguments of "Rus-Bank CJSC and recognized that the FAS Russia's was valid and justified.