OREANDA-NEWS. On August 29, 2008 the Moscow Office of the Federal Antimonopoly Service (OFAS Russia) fined the "INVESTITSIONNY SOYUZ [Investment Union]" Commercial Bank 100 000 Rubles for disseminating false information, reported the press-centre of FAS Russia.

The case was initiated due to information discrepancy with regard of the exchange rates. Information on the exchange rate placed outside exchange bureaus did not match the information placed inside the bureaus of exchange. The Moscow OFAS Russia recognized that "INVESTITSIONNY SOYUZ" Commercial Bank violated Clause 1 Part 1 Article 14 of the Federal Law "On Protection of Competition" in terms of disseminating false, inaccurate or distorted information which can inflict damages to an economic agent or harm its business reputation.

Taking into account voluntary elimination of the antimonopoly violations by the bank, the Moscow OFAS Russia imposed minimum penalty under Article 14.33 of the Code of the Russian Federation on Administrative Violations.