OREANDA-NEWS. June 19, 2013. Comes into force No.462 Decree of the Government of the Russian Federation “On Introducing Changes to the Rules for Establishing the Dominant Position of a Financial Organization (Excluding Credit Organizations)” of 3rd June 2013.

No.462 Decree was devised by the Federal Antimonopoly Service (FAS Russia) to adjust No.359 Decree of the Government of the Russian Federation “On Approving the Conditions for Recognizing the Dominant Position of a Financial Organization (Except Credit Organizations) and the Rules for Establishing the Dominant Position of a Financial Organization (Except Credit Organizations)” of 9th June 2007 in compliance with the Law “On Protection of Competition”.

Microfinance organizations were included in the list of financial organizations by No.401-FZ Federal Law “On Introducing Amendments to the Federal Law “On Protection of Competition” and Certain Legislative Acts of the Russian Federation” of 6th December 2011.

To calculate the amount of financial services on the market in order to determine the dominant position of a microfinance organization, the Decree sets a special indicator – the amount of microloans issued by the organization.