The Federal Antimonopoly Service of 27 April 2009 will continue to review the case of violation of "Mortgage Agency (OAO HMLA) and 45 insurance organizations of Part 1 of Article 11 of the Federal Law" On Protection of Competition (anti-competitive agreements). Decision to postpone the case, FAS Russia made at the commission meeting on Feb. 19, 2009. Earlier, on August 28, 2008, FAS Russia initiated a case in connection with the conclusion between the agency and insurance organizations of cooperation agreements in the insurance property and other interests of borrowers on mortgage lending program of AIZhK. These agreements establish a maximum aggregate insurance rates by type of insurance provided by the loan agreement - no more than 1,5% of the sum insured under insurance contracts, contrary to paragraph 1 of Part 1 of Article 11 of the competition law (which prohibits the establishment of tariff agreements between entities ).
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