OREANDA-NEWS. November 26, 2014. The statement was made by Deputy Head of the Federal Antimonopoly Service (FAS Russia), Andrey Tsyganov, at an international conference devoted to international and Russian experience of implementing antimonopoly compliance. (Antimonopoly compliance – a system of corporate control that minimizes the risks of violating the rules of competition).

Deputy Head of FAS reported that the International Chamber of Commerce had devised special guidelines on the compliance procedure. The document was discussed by OECD Competition Committee in June 2014 and annual conference of the International Competition Network in April 2014. In October 2014, a special session at the VI annual conference on “Antimonopoly Regulation in Russia” focused on the issues of antimonopoly compliance.

Andrey Tsyganov gave examples from the practices of the antimonopoly authorities of the member-countries of the European Union that drafted recommendations on using the compliance procedures. He stressed the importance of employing these mechanisms by small and medium companies as well as business associations.

The FAS representative pointed out that the main objective of implementing compliance procedures in Russia is to minimize the risks of violating the antimonopoly law, not only financial, but also the reputational ones. It is specified in the Strategy for developing antimonopoly bodies by 2024.

“We are especially grateful to the specialists of the International Chamber of Commerce since Russian is the third language, in which the practical guidelines on antimonopoly compliance are published”, emphasized Deputy Head of FAS, Andrey Tsyganov.