Sunday, July 27, 2014

FAS Proposes That Monopolists Pay Damages To Consumers

At a recent expert discussion on of implementation of the FAS Action Plan for “Developing Competition Improving the Antimonopoly Policy” Head of the Legal Department of the FAS, Sergey Puzyrevskiy, proposed that if a monopolist caused damage, it should be liable to consumers. Representatives of the Ministry of Justice, “Skolkovo” Fund, Russian Union of Industrialists and Entrepreneurs, “Business Russia”, members of Non-Profit Partnership for Developing Competition and Corporate Counsels Association, practicing lawyers, etc., took part in discussion.  According to Puzyrevskiy, “[FAS] are proposing an alternative method to compensate damages to consumers injured by violations of the antimonopoly law that can be in the form of compensation from 1 - 15 % of the value of the purchased goods.” Concluding the meeting, Puzyrevskiy emphasized the importance of discussing the draft Law at the Analytical Centre at the Government of the Russian Federation and asked participants to formulate their proposals and forward them to FAS Russia.

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