OREANDA-NEWS. October 27, 2010. The Head of the Department for Control over Financial Markets of the Federal Antimonopoly Service (FAS Russia), Ms. Yulia Bondareva, met in Cherkessk with the Chairman of the Government of the Republic of Karachaevo-Cherkessia, Mr. Muradin Kemov. At the meeting there were also present the following members of the Presidium of the Government of the Republic of Karachaevo-Cherkessia: the First Vice-Premier of the Government of the Republic of Karachaevo-Cherkessia, Mr. Uzdenov; the Minister of Finances, Mr. Chukalin; the Minister of Economics, Mr. Khashukaev; and the Head of Karachaevo-Cherkessia OFAS Russia, Mr. Urakcheev, reported the press-centre of FAS Russia.

The parties discussed cooperation between the Government of the Republic and FAS Russia and performance of financial markets in the Republic. Special attention was devoted to the market of payments for housing and utilities services and operations of the only payment-processing centre in the capital city of the Republic. In particular, it is essential to stop the payment-processing centre abusing its market dominance in terms of creating discrimination and fixing monopolistically high prices for accepting and handling payments for housing and utilities services (power supply, heating, water supply and disposal) from residents. In 2007-2010 the cost of services provided by the payment-processing centre was 3% -7.5%.

Karachaevo-Cherkessia OFAS Russia found that the payment-processing centre violated the antimonopoly law by abusing market dominance.

The Chairman of the Government of the Republic confirmed that executive authorities of the Republic and Karachaevo-Cherkessia OFAS Russia should join their efforts to restore competitive conditions on the market of payments for housing and utilities services.

After the meeting with the leadership of the Republic, Ms. Bondareva discussed important issues of performance of financial organizations and antimonopoly regulation of financial markets with representatives of banking and insurance sectors. At the meeting there was present the Chairman of the National Bank of the Republic of Karachaevo-Cherkessia (of the Central Bank of the Russian Federation), Khomenko.

On 13 October 2010, Cherkessk hosted a workshop on “Observing antimonopoly law by economic entities and utility payments by physical and legal persons”. The workshop was attended by the Head of Stavropol OFAS Russia, Mr. Nikitin; Deputy Head of Kabardino-Balkaria OFAS Russia, Ms. Khakulova; and Deputy Head of the FAS Russia’s Department for Control over Financial Markets, Ms. Sergeeva.

The central item on the agenda was developing competition principles on the market of utility payments. In particular, the workshop discussed precedent decisions made by FAS Russia and Karachaevo-Cherkessia OFAS Russia on the cases for restricting competition in the field of housing and utility payments.

The workshop also discussed important issues of the law enforcement practice of FAS Russia and its regional offices and the major trends in the antimonopoly law regarding financial markets.