Antitrust warns of systemic steps if unfair competition flourishes

MOSCOW, Aug 25 (PRIME) -- Russia’s Federal Antimonopoly Service may apply systemic measures to participants of the financial market after the situation with Alfa Capital if facts of unfair competition become large-scale, Liliya Belyayeva, director of the service’s department for financial markets control, told reporters on Friday.

“This issue is quite serious, and our actions to prevent it should be at the level of warning at this stage. In case it is fulfilled, we will not impose certain sanctions on the company,” she said.

“We will follow the news, monitor market participants, and if this becomes large-scale – I’m speaking about unfair competition – then we will come with initiatives to adopt systemic measures.”

Earlier in August, Alfa Capital warned its clients about problems at Otkritie Financial Corporation (FC) Bank, B&N Bank, Credit Bank of Moscow and Promsvyazbank. On Monday, the company withdrew the letter, the Federal Antimonopoly Service warned Alfa Capital of unfair competition.

End