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January 21
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MTS reports that the monitoring system that it introduced (based on an agreement with the U.S. government) has called attention to the ‘daughter’ operations of the company in Armenia.

MTS declares that it has provided information on the operations to the U.S. Department of Justice and the U.S. Securities and Exchange Commission (SEC). The U.S. Department of Justice and the SEC have also asked for additional information regarding these transactions, and MTS has launched inspection. “We can’t predict the period of the end of inspection and the results at this moment,” the report of MTS reads.

“As a public enterprise, we always disclose any information regarding inquiries of regulatory bodies. In the current stage, a more detailed commentary on the course and content of inspection seems premature. We are still enhancing the compliance system within MTS, including at our unit in Armenia,” Interfax reports, citing the press service of MTS.

In 2019, MTS, within the scope of a friendly agreement signed with SEC and the U.S. Department of Justice, introduced an independent compliance monitoring system to improve the anti-corruption policy, regulations and procedures. The agreement was signed as part of the anti-corruption investigation into the activities of MTS in Uzbekistan. According to the agreement, MTS paid a $850,000,000-dollar penalty to the U.S. government in 2019.

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