Insights

Challenges of FCPA Compliance During Covid-19

On June 25, 2020, pharma giant Novartis AG and two of its subsidiaries agreed to pay the Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) $346.7 million in penalties and disgorgement to resolve FCPA offenses in Greece, Vietnam and South Korea. This settlement highlights that, irrespective of economic downturns various countries are experiencing or a pandemic gripping the world, the FCPA will continue to be enforced by the relevant authorities.

Bankruptcy Moratorium: It’s Been Launched Now

On April 6, 2020, the Russian Government introduced a moratorium on bankruptcy of debtors, companies and sole traders, who are most hit by the coronavirus pandemic: lenders shall be prohibited from filing bankruptcy claims against such debtor.

Labour Law: Non Working Days

On March 26, 2020, the Ministry of Labour published recommendations to workers and employers in connection with the Decree of the President of the Russian Federation dated March 25, 2020 No. 206 "On the Announcement of Non-Working Days in the Russian Federation."

The FAS Russia During COVID-19 Pandemic: Initial Response

The spread of coronavirus globally poses new challenges before FAS: how to prevent violation of competition law in such turbulent market conditions?