FAS Russia will gain access to information in the FSIS «Grain»

The Federal Antimonopoly Service of Russia (FAS) will receive access to information contained in the Federal State Information System for Traceability of Grain and Its Processing Products (FSIS «Grain»), within the framework of an agreement concluded with the Federal State Budgetary Institution » Agricultural Analytics Center», the antimonopoly agency reported.

Such information will be provided by the Agricultural Analytics Center on an ongoing basis. “This will allow the department, among other things, to obtain information about market participants who are required to register over-the-counter transactions and monitor the implementation of government regulations by comparing data provided by the exchange and the center,” the message states.

If violations of the provision of information on over-the-counter transactions are detected, organizations face liability in accordance with the Code of Administrative Offences. Part 6 of Article 14.24 of the Code of Administrative Offenses of the Russian Federation provides for the imposition of an administrative fine on citizens in the amount of 1,000 to 2,500 rubles, on officials — 20,000 to 30,000 rubles, on legal entities — from 300,000 to 500,000 rubles.

FSIS «Grain» is designed to collect and analyze information on the production of grain and its processed products, their transportation, storage and disposal, ensures traceability of batches of grain, oilseeds and main grain processing products, including during purchases to the intervention state fund.