Focus on reduction of the court’s workload – new rules for examining disputes through arbitration

Restrictions provided by the law and a capability of the Bank of Russia to directly control many internal processes in rating agencies most likely will not suit foreign rating agencies.

2016 began for the pharmaceutical sector with introduction of new state support measures for Russian pharmaceutical companies and with additional requirements for pharmaceuticals produced by foreign companies

On December 29, 2015, Russia passed a piece of legislation according to which all disputes connected with corporate governance in a Russian company may only be submitted to an arbitration court (as opposed to the state commercial court), except for the following disputes: 

• Convening of general meetings of shareholders;
• All corporate disputes in respect of the companies with strategic importance;
• Buy-out of shares in joint stock companies;
• Expulsion of shareholders from the company. 

Draft law submitted to Russian Duma provides tougher measures to combat improper use of agricultural land

On February 15, 2016, Federal Law No.32-FZ became effective, specifying current legal regulations on taxation of profits of controlled foreign companies

In the beginning of 2016, the law on self-regulatory organizations regulating establishment and activity of SROs on the financial market entered into force. 

The Law can create additional administrative barriers for new and existing participants of the financial market. It has also created a field for potential violations of antitrust law by an SRO and its members.

The general rule of Russian law is that any use of a trademark is prohibited without the permission of the rightholder, which is in line with international IP standards.

On January 12, 2016 ECHR made a decision on the Barbulescu v. Romania case No.61496/08 allowing to monitor employees’ private correspondence and recognized an employee’s dismissal due to private messaging using company devices during working hours as lawful and not violating personal rights of the employee. 

As we previously informed, on December 29, 2015, the Moscow Commercial Arbitration Court recognized ruble devaluation resulting from the policy of the Russian Central Bank concerning an independent exchange rate, to be reasonable grounds for entering amendments into a lease agreement concluded in foreign currency (case No.А40-83845/15).