Meeting with Russell Damtoft, Associate Director of the U.S. Federal Trade Commission

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On March 16, the Chamber hosted a Meeting with Russell Damtoft, Associate Director of the U.S. Federal Trade Commission devoted to the current issues in antimonopoly sphere.

Opening the meeting, Tetyana Prokopchuk, Chamber Vice President of Policy highlighted the importance of antimonopoly issues for the Chamber, as fair rules, ensuring strong competition are among the factors that allow economies to prosper.

Russell Damtoft stressed that since his last visit, Ukraine went through major changes in antimonopoly sphere, but he would like to hear from business what positive steps were already taken and what areas still need improvement – in both AMCU operations and regulatory environment. He also announced the launch of new assistance program targeting at AMCU.

During an open discussion the following issues were raised: implementation of compliance program and its effect on amount of fine for violations, state aid function of AMCU, possibility of judicial review of amount of fines, overlapping functions of AMCU with other bodies, possibility of application of alternative dispute resolution mechanisms in competition matters, application of leniency program and issues, arising in context of M&A regulations.

We encourage all interested Chamber Members to provide their feedback regarding the areas of antimonopoly legislation that need further improvement by Friday, March 25, COB.