OREANDA-NEWS. December 03, 2009. The 9th Arbitration Appeal Court dismissed the appeal of the "Managing Company of the "Bank of Moscow" CJSC, which confirmed validity and legitimacy of the fine imposed by the Federal Antimonopoly Service (FAS Russia), reported the press-centre of FAS Russia.

The Federal Antimonopoly Service established the fact of unfair competition when it found that the "Managing Company of the "Bank of Moscow" CJSC violated Clause 4 Part 1Article 14 of the Federal Law "On Protection of Competition". FAS Russia also fined the Bank 7,132,648 Rubles under Part 2 Article 14.33 of the Code of the Russian Federation on Administrative Violations.

The "Managing Company of the "Bank of Moscow" CJSC violated the antimonopoly law by unauthorized use of "Sochi 2014" word-combination in the name of the private equity fund "Olympic Avenue -Sochi 2014". The word-combination is identical to the "SOCHI 2014" brand mark, which rights holder, under No. 353760 Certificate, is the "Sochi 2014" Organizational Committee".

The "Managing Company of the "Bank of Moscow" CJSC filed a lawsuit to the Arbitration Court, and later lodged an appeal. The Courts, however, confirmed the rightness of the FAS Russia's position.

Reference 1:
Clause 4 Part 1Article 14 of the Federal Law "On Protection of Competition" prohibits unfair competition related to unauthorized use of the results of intellectual activity and equal to them means of differentiation of a legal entity, or the means of differentiation of goods, works or services in their selling, exchanging or other introduction in circulation.

Under Part 2 Article 14.33 of the Code of the Russian Federation on Administrative Violations, introduction of goods into circulation with unauthorized use of the results of intellectual activity and equal to them means of differentiation of a legal entity, or the means of differentiation of goods, works or services, is administratively liable: legal entities can be fined from 0.01 to 0.15of the income gained by the violator by selling goods, works or services in the market where the violation was committed.

Reference 2:
In 2009 FAS Russia and its regional bodies initiated 12 cases upon the facts of unauthorized use of Olympic and Par-Olympic symbols. The total amount of due fines is more than 7.3 million Rubles.