print version

In 2009 the administrative and criminal liability for violation of anti-monopoly legislation and legislation on securities market was made tougher.

The administrative liability for violation of anti-monopoly legislation was toughened. For instance, disqualification as a kind of administrative punishment will be applicable not only to heads of legal entities and entrepreneurs but will also be applicable to state (municipal) officials. Members of tender, auction, quotations or integrated state customer committees are liable as office-holders. The liability for this offence is established as a fine worth from 15 to 50 thousand rubles or a disqualification.

Authority body officials are also liable for implementation of concerted actions that restrict competition. Under the amendments the fine for violating the procedure of placement of the order may be calculated in %% of the initial price of the contract. The minimum amount of the fine (100 thousand rubles) is established for legal entities for concerted actions restricting competition. They have specified the grounds for exemption from liability for this offence in case of ‘turning oneself in’ to an anti-monopoly body.

The amount of fine for abuse of a domineering position at the goods market and unfair competition has been raised.

The limitation period for calling to account for violating the legislation on electric power industry has been made longer – up to 1 year since the time of offence instead of 2 months.

They have established criminal liability for some offences in the sphere of securities circulation. For these offences they envisage sanctions such as a fine, denial of the right to hold certain offices or to perform certain activities as well as deprivation of freedom, the choice of sanctions also depending on the presence of aggravating circumstances established by the new clauses of the Criminal Code of the Russian Federation.

Thus, for instance, manipulation with prices at the securities market with the use of mass media or the Internet may be punishable by deprivation of freedom for the term from five to seven years with or without a fine worth up to one million rubles or amounting to the wages or other income of the convict for the period of up to three years, with or without the denial of the right to hold certain offices or to perform certain activities for the period of up to three years. The violation of the procedure for keeping record of rights to securities performed as a collusive action by a group of persons, by an organized group or entailing a grand damage is punishable by deprivation of freedom for the term from two to six years with a fine worth up to one million rubles.

Criminal liability has been established for obstruction of implementation or unlawful restriction of rights of securities owners as a fine amounting up to three hundred thousand rubles or the wages or other income of the convict for the period of up to two years, or a deprivation of freedom for the term up to two years with or without a fine of up to one hundred thousand rubles or the wages or other income of the convict for the period of up to one year, with or without the  denial of the right to hold certain offices or to perform certain activities for the period of up to two years.