24 April 2013
With effect from 1 January 2013, Federal Law No. 273-FZ "On Preventing Corruption" (the "Anti-corruption Law") was amended to introduce requirements that companies implement anti-corruption measures.
Article 13.3 of the Anti-corruption Law requires organisations to develop and implement anti-corruption measures such as (i) appointing a specific department or an official to be responsible for preventing corruption and related offences; (ii) co-operating with enforcement authorities; (iii) developing and implementing standards and procedures for ethical business practices; (iv) establishing an ethical code of conduct for personnel; (v) preventing and resolving conflicts of interest; and (vi) preventing the filing of false or off-the-record reports and the use of forged documents. This list of measures is not exhaustive.
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