The Federal Antimonopoly Service has proposed changes to the mechanism for monitoring transactions of large financial organizations. The bill provides for the need to coordinate the acquisition of assets with the service, regardless of the size of the transaction, as follows from the document on the portal of legal acts.
Changes are expected to be introduced in the Competition Protection Law. As can be seen from the document, the new rules will affect all financial organizations in case of purchasing a share of a company of the “same type”. Therefore, the FAS aims to increase the effectiveness of antitrust control.
According to current legislation, banks must approve transactions with the Federal Antimonopoly Service for the purchase of competitors if the asset exceeds 29 billion rubles.
As the FAS previously noted, they planned to involve the Central Bank and the Ministry of Finance in the development of a bill designed to strengthen control over transactions involving the purchase of competitors by banks.
Author:
Natalia Gormaleva
Source: RB
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