OREANDA-NEWS. November 11, 2009. The Heads of the Russian and the US Competition Authorities signed Memorandum on Understanding (MoU). This MoU is the first document on interagency cooperation signed between the Russian and the US Competition Authorities that defines goals, tasks and basic forms of cooperation of Competition Authorities of Russia and USA, reported the press-centre of FAS Russia.

During his visit to the USA the Head of the FAS Russia Mr. Igor Artemyev and Stats-Secretary Deputy Head of the FAS Russia Mr. Andrey Tsarikovsky held negotiation with the Assistant Attorney General for Antitrust Division of the US Department of Justice Ms. Christine A. Varney and the Chairman of the US Federal Trade Commission Mr. Jon Leibowitz on development of cooperation in the sphere of competition policy.

The Parties informed each other on basic activities of the Russian and US Competition Authorities, exchanged their views on options for development of bilateral cooperation in the sphere of competition policy and enforcement. The Parties also exchanged working materials on issues subject to their competence.

Moreover, the Parties agreed taking into consideration confidentiality rules to exchange information on changes to the national competition legislation, enforcement practice, conducted investigations with regard to violation of competition legislation, as well as court examination.

Furthermore, the Parties discussed possibilities to hold joint investigations on violations of competition legislation, exchange of non-confidential information to conduct such sort of investigations, as well as cooperation to bring international cartelists, Russian or American, to liability.

Apart from that, taking into consideration the growing role of mutually beneficial bilateral cooperation and increase of the role of competition policy, the Parties decided to interact more intensively and to exchange an experience in the sphere of international competition legislation and enforcement practice within the OECD, UNCTAD, ICN, APEC and other international organizations.

The Parties underlined importance of this negotiation and focused on necessity and willingness to further develop interaction in the sphere of competition policy aimed at creation of benign trade and economic conditions for the economic entities of both countries.

The Heads of Competition Authorities of Russia and USA reached an understanding that bilateral cooperation in this sphere has great perspectives and agreed to enhance cooperation between the agencies thus stimulating the US-Russian cooperation in the sphere of competition policy and enforcement.

For information
Federal Trade Commission of the USA (FTC)

The Federal Trade Commission of the USA (FTC) was established in 1914, its purpose was to prevent unfair methods of competition in commerce as part of the battle to "bust the trusts." Over the years, Congress passed additional laws giving the agency greater authority to police anticompetitive practices. In 1938, Congress passed the Wheeler-Lea Amendment, which included a broad prohibition against "unfair and deceptive acts or practices." Since then, the Commission also has been directed to administer a wide variety of other consumer protection laws, including the Telemarketing Sales Rule, the Pay-Per-Call Rule and the Equal Credit Opportunity Act. In 1975, Congress gave the FTC the authority to adopt industry-wide trade regulation rules. The FTC's work is performed by the Bureaus of Consumer Protection, Competition and Economics. That work is aided by the Office of General Counsel and seven regional offices.

The FTC is an independent agency that reports to Congress on its actions. The Commission is headed by five Commissioners, nominated by the President and confirmed by the Senate, each serving a seven-year term. The President chooses one Commissioner to act as Chairman. No more than three Commissioners can be of the same political party. The current Chairman (from March, 2009) is Jon Leibowitz.

Information is taken from:
http://www.ftc.gov/bcp/edu/pubs/consumer/general/gen03.shtm

Antitrust Division of Department of Justice of the USA (DOJ)
For over six decades, the mission of the Antitrust Division has been to promote and protect the competitive process - and the American economy - through the enforcement of the antitrust laws. The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade, such as price-fixing conspiracies, corporate mergers likely to reduce the competitive vigor of particular markets, and predatory acts designed to achieve or maintain monopoly power.

The Division prosecutes serious and willful violations of the antitrust laws by filing criminal suits that can lead to large fines and jail sentences. Where criminal prosecution is not appropriate, the Division institutes a civil action seeking a court order forbidding future violations of the law and requiring steps to remedy the anti-competitive effects of past violations. Many of the Division's accomplishments on these fronts were made possible by an unprecedented level of cooperation and coordination with foreign antitrust enforcement agencies and with state attorneys general.

Information is taken from:
http://www.justice.gov/atr/overview.html