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).

Starting from January 1, 2016, a new procedure for involving notaries in submission of documents for state registration of legal entities became effective.

The state support to foreign legal entities and certain Russian legal entities is restricted

The first month of 2016 was marked by certain amendments to corporate law, which have taken effect. Here we draw your attention to the most important and interesting ones.

Starting from January 01, 2016, the parties are granted an ability to change under a special procedure the terms of state contracts which expire in 2016. The special procedure is subject to approval by the Russian Government.

Amendments to the Competition Law regarding simplified procedure for contesting in the area of construction are entered into force 

On December 29, 2015, a federal law became effective, extending until June 30, 2016 the period for submitting declarations for capital amnesty