OREANDA-NEWS. February 10, 2014. The Federal Antimonopoly Service (FAS Russia) is the main executive body that enforces the Information Disclosure Standards upon participants of wholesale and retail markets of electric power industry, as approved by No.24 Decree of the Government of the Russian Federation of 21.04.2004.

Analysis of the data supplied by FAS regional Offices showed that in 2013, 284 cases were initiated for violating information disclosure standards (Article 9.15 of the Code of the Russian Federation on Administrative Violations), including 150 administrative cases against officials and 136 cases against legal entities.

The total sum of fines was 25,805,000 RUB.

“It should be brought to notice, that in comparison with the previous year, in the period in question the number of administrative violations under Article 9.15 of the Code on Administrative Violations increased. To compare, in 2012 the number of opened cases reached 211, and the total fines - 22,800,000 RUB. The upward trend is related to the changes to the Information Disclosure Standards that came into force and considerably expanded the list of information subject to disclosure by market participants.

An increased number of exposed violations in 2013 is aimed at efficient execution of the state function for exercising control over compliance with the Information Disclosure Standards, which increases availability of the disclosed information for consumers and ensure information transparency of participants of electric power industry”, summed up the Head of FAS Department for Control over Electric Power Industry, Vitaly Korolyov.