Roundtable discussion on the development of competition law: Federal Antimonopoly Service plans to increase fines for abuse of market dominance
The Head of Federal Antimonopoly Service announced that the average fine against a company for abusing its market dominance will be doubled in 2012. It was noted that early this year the Service adopted a warning concept as part of the third set of legislative amendments. If a company fails to react to such a warning and continues to abuse its market dominance, the Service will fine the company.
“I would like all the businessmen and lawyers present to pay attention to the following – the fines to be imposed by the service in 2012 will be at least twice as much as before,” said Mr. Igor Artemyev at a roundtable discussion on the development of competition law. He noted also that the changes will firtst of all concern punishments for discrimination in providing access to infrastructural facilities, in particular power grids.
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