OREANDA-NEWS. November 27, 2014. The 9th Arbitration Appeal Court confirmed legitimacy of a determination of the Federal Antimonopoly Service (FAS Russia) to impose an administrative fine (500,000 RUB) upon “Stupino Metallurgical Company” OJSC for failure to submit information upon a FAS request.

As the body authorized to exercise control over foreign investments in the Russian Federation, FAS requested information from “SMK” OJSC, which was necessary to check violations of No. 57-FZ Federal Law in the course of foreign investments in a strategic company for national defence and state security.

“SMK” OJSC failed to submit complete information within the designated period and FAS issued a determination to impose a fine.

The metallurgical company challenged the decision of the Antimonopoly Service but the Appeal Court confirmed legitimacy of FAS actions.