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Anti competitive behaviour could lead to jail

Anti competitive behaviour could lead to jail
Russian Managers found guilty of anti-competitive behaviour could face time in jail. Federal Anti-monopoly Service chief, Igor Artemyev, has proposed several changes to competition law, at a meeting with Prime Minister Vladimir Putin.

Currently, the Federal Anti-monopoly Service has the right to fine companies from 1 to 15 percent of turnover. The penalties will be proportionate to the damage they've done to the state.

The law introduced in 2006 defined creation of cartels as a criminal offense, the definition is very similar to that in European law. In Russia the law doesn't work yet, however we hope that we will be able to change that within the next three weeks. In Europe one gets up to 10 years in prison for participating in a cartel.

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