Thank you for your interest in our recent webinar, Russia: New Developments in Anti-Corruption.
Takeaways from the webinar include the following:
- The Russian government’s recent aggressive anti-corruption campaign has made the Russian business environment less stable, especially in regions outside Moscow, as the campaign has included prosecutions of a number of local governors.
- Russian anti-corruption legislation generally meets international standards and provides for criminal liability for individuals and administrative liability for corporate entities.
- In some ways, Russian legislation is even more far reaching than that of most other countries. For example, a company can be prosecuted if a third party simply promises to pay a bribe in the interests of, or for the benefit of, the company.
- The largest fine imposed to date on a company is 100 M RUB (approximately 1.5 M USD).
- Current trends show an increase in the number of prosecutions and the size of fines.
- Russian law recognizes something equivalent to an “adequate procedures.” However, it is difficult to apply in practice.
- Foreign legal entities and individuals can also be prosecuted for bribery inside and outside of Russia.
- Under a recent legislative amendment, companies can be exonerated from liability if they cooperate in the investigation. However, this provision has not yet been applied in practice.
- Under another recent legislative amendment, prosecutors can also freeze the assets of companies, in an amount equivalent to the potential fine, pending the conclusion of the investigation.
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