The Federal Antimonopoly Service (FAS) of Russia fined Yandex for advertising financial services of companies that do not have a license to carry them out.
As reported on the official website of the department, Yandex was imposed two fines for a total of 200 thousand rubles for distributing advertising of financial services by Niron.Shopping and Mirax Capital.
The advertisements offered consumers investment services through the companies mentioned. However, neither Niron.Shopping nor Mirax Capital are licensed or authorized to provide financial services, which violates Section 7, Section 7 of the Advertising Law. For violation of these requirements, the advertising distributor is responsible.
As a reminder, in December Yandex was already fined by the FAS 100 thousand rubles for posting a prohibited Gaia Herbs supplement in Yandex.Direct.
And at the end of February, the FAS obliged Yandex to stop providing its own services with advantages in the search engine within a month, thereby underestimating the positions of other companies in the search results. Yandex disagreed with the order, arguing that its implementation would worsen the search quality for the user. You can read more about this here.
