Russian regulator warns Wildberries about requiring sellers to open accounts at subsidiary bank

MOSCOW. June 26 (Interfax) - Russia's Federal Antimonopoly Service (FAS) has issued a warning to Wildberries, one of the country's largest online marketplaces, for requiring new sellers to open an account at its subsidiary bank, the regulator said in a press release.

The FAS said Wildberries has updated its offering and stipulated that starting June 30 new sellers will not be able to register and entrepreneurs who previously joined the marketplace will not be able to continue working without opening an account at Wildberries Bank. If this is not done, access to their account with the marketplace will be restricted.

"The FAS of Russia believes that the planned conduct of Wildberries may have signs of violating the law on protection of competition," the regulator said.

If the FAS finds signs of "further unlawful conduct by the marketplace," the "service will take antimonopoly response measures," it said.

The press service of Wildberries & Russ said the merged company will study the warning as soon as it is received.

The company said that the opening of an account at the bank to register on the platform is necessary only to vet new sellers, since the bank has access to databases for more careful verification.

"Sellers are not obligated to use the account opened at Wildberries Bank. Sellers can use a settlement account at any other Russian bank where they are served to work on the platform, as well as close this account after registration. The absence of an account is not grounds for blocking the personal account," the company said.

Furthermore, sellers who already work on the marketplace do not need to open an account at the bank, it said.