Analytics Legal analytics

SPIC 1.0. Investors are given back the proven mechanism and the right to extend contracts due to the sanctions

On 14 March 2022, a law came into force reviving the SPIC 1.0 mechanism for new investment projects, and allowing extending the terms of contracts already concluded due to foreign sanctions. The amendments were developed by the Government as part of a package of anti-crisis measures.

As part of the development of this law, the Government has also clarified the rules for concluding SPIC 1.0. The updated rules came into effect on 1 April 2022.

SPIC 2.0: Mechanism for development of innovations and introduction of modern technologies

On 2 August 2019, the President of the Russian Federation signed a legislative package concerning significant reforms for the mechanism of special investment contracts. Amendments refer to legal regulation in industrial policy and affect tax and fiscal legislation.

In this review, VEGAS LEX experts have analyzed changes, goals and prospects of the updated SPIC mechanism.

Overview of the practice in application by the FAS Russia of antimonopoly legislation for March-April 2018

The practice in application of the provisions of antimonopoly legislation is of a particular importance. Thus, having the knowledge of the current approaches to application of the antimonopoly legislation’s provisions, it is possible to forecast the possibilities and expediency of appealing the acts of antimonopoly authorities in the administrative or judicial proceedings. The VEGAS LEX law firm is providing you with an overview of the practice in application of the antimonopoly legislation’s provisions in March-April 2018.

Federal Law No. 223-FZ: only tighten, never loosen

On December 31st, 2017 Federal Law No. 505 "On amending certain Russian Federation legislative enactments" was signed (hereinafter Amendments). The amendments introduce substantial changes into Federal Law No. 223-FZ "On procuring goods, work, and services by certain types of legal entities" dated July 18th, 2011 (hereinafter Federal Law No. 223-FZ).

Personal data: to what extent have fines increased in 2017?

Starting July 1st, 2017 amendments introduced into Article 13.11 in the Russian Federation Code of Administrative Offenses entered into force, introducing significant changes in the provisions that establish the scope of liability entailed for violating legislation in the area of personal data.

Big Data: the goals of antimonopoly regulation, or what we want to protect versus what we can

Big Data is now an important economic asset that can be used by organizations to gain a competitive advantage. Because of this, antimonopoly authorities are increasingly interested in regulating the market for Big Data.

LinkedIn is blocked in Russia for violation of the data protection requirements

Russian courts ruled to block access to LinkedIn in Russia due to non-compliance with the requirements for  personal data localization and data protection. The courts declined LinkedIn's arguments that it had no legal presence in Russia and was not properly informed about the claim. This is the first case when a foreign web-service was blocked for non-compliance with the personal data localization / data protection requirements.

Trade Act: new rules

In July of this year, substantial changes were made to the Federal Law dated 28.12.2009 No. 381-FZ “On the Basis of State Regulation of Commercial Activities in the Russian Federation”. The most controversial and debated turned out to be a new provision, which provides for the limitation of the total amount of remuneration payable to suppliers of food products to retail chains for the acquisition of a certain number of goods, and the payment for additional services.

Purchases under new preference rules in exchange for investments

On 1 September 2016, shall come into force changes to the Federal Law “On the contract system in the procurement of goods, works and services for state and municipal needs”, made by the Federal Law dated 3 July 2016 No. 365-FZ.

Public procurement: protecting the exclusive rights of copyright holders

We present, for your information, a collection of articles on issues in the field of exclusive rights protection for copyright holders in the course of public procurement.