Russia’s Federal Antimonopoly Service (FAS) will strengthen its control over the operations of major financial institutions, the newspaper reported, citing a source close to the Russian government. “News”.
According to the draft law approved by the government commission, major players whose asset value exceeds the level set by the government and the Central Bank will be required to coordinate with the FAS in purchasing shares and assets of all rivals, regardless of their size.
Currently, the FAS’s preliminary approval is required only if the value of the acquired organization’s assets exceeds 29 billion rubles for banks, 8 billion rubles for leasing companies, 3 billion for microfinance companies, and 200 million for insurance organizations.
Formerly the Federal Antimonopoly Service fine 700 thousand rubles to FC Otkritie Bank for inappropriate advertising.
Formerly FAS determined criteria for unreasonable price increases.
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Source: Gazeta
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