Navigate Up
Sign In
EEC to develop new approaches to antitrust compliance based on standardization system

EEC to develop new approaches to antitrust compliance based on standardization system

Ф-1.JPG
2/19/2021

This was reported by Arman Shakkaliev, Member of the Board — Minister in charge of Competition and Antitrust Regulation of the Eurasian Economic Commission, at the plenary session of the annual Antimonopoly Forum organized by the Russian Federal Antimonopoly Service jointly with the Association of Antimonopoly Experts.


“In simple terms, compliance means conformity. Conformity with the norms of antitrust legislation. Today, it is one of the “soft regulation” mechanisms in the EAEU law. But in its current form, antitrust compliance is not unified. We propose standardizing and aligning its terms, definitions, and procedures,” the EEC representative commented.  


Introducing the antimonopoly compliance institution into the law of the Eurasian Economic Union is one of the priority tasks of the Commission’s competitive unit. Preventing antitrust risks is a beneficial mechanism both for market participants and antimonopoly authorities. It helps businesses identifying management bottlenecks that can lead to violations of antitrust legislation. This mechanism shows antimonopoly authorities, including the Commission, that, in addition to eliminating violations of competition rules, business adjusts its internal processes to prevent such violations in the future.

The Member of the EEC Board emphasized that compliance is a kind of “health certificate” for the company, the introduction of which increases the attractiveness of the business, demonstrates its concern for the consumer.

 

When asked about the requirements placed on independent experts who will give opinions on the enterprise’s policy compliance with the established rules, Arman Shakkaliev said that in order to avoid unnecessary bureaucracy, this process will be organized on the “two keys” basis. The first will be provided by the antimonopoly service, which empowers and evaluates the expert, and the second - by the accreditation system based on international principles.​