Standard Merger and Acquisition Reviews Through Equal Rules Act of 2014

Bill: 113-hr-5402
Sponsor: full_name: Rep. Farenthold, Blake [R-TX-27]
Introduced: 2014-09-08
Policy area: Commerce
Subjects: Administrative law and regulatory procedures

Civil actions and liability

Competition and antitrust

Corporate finance and management

Federal Trade Commission (FTC)

Federal district courts

Jurisdiction and venue

Securities
Latest action: action_date: 2014-12-11
text: Placed on the Union Calendar, Calendar No. 495.

Summaries:
action_date: 2014-09-08
action_desc: Introduced in House
text: <p>Standard Merger and Acquisition Reviews Through Equal Rules Act of 2014 - Amends the Clayton Act with respect to actions brought by the Attorney General for violations of antitrust laws. Requires the Federal Trade Commission (FTC), but only under the Clayton Act, to exercise the same authority and procedures of the Attorney General specified in the Act with respect to the prohibition against acquisition by one corporation of the stock of another (merger) that may substantially lessen competition or tend to create a monopoly.</p> <p>Amends the Federal Trade Commission Act (FTCA) to exclude proposed mergers, acquisitions, joint ventures, or similar transactions from FTC proceedings.</p> <p>Grants jurisdiction to the U.S. district courts to issue writs of mandamus commanding compliance with the FTCA or any FTC order, if the FTC applies to such courts with respect to any activity related to consummation of a merger, acquisition, joint venture, or similar transaction that results in an unfair method of competition.</p>

action_date: 2014-12-11
action_desc: Reported to House without amendment
text: <p><b>(This measure has not been amended since it was introduced. The summary of that version is repeated here.)</b></p> <p>Standard Merger and Acquisition Reviews Through Equal Rules Act of 2014 - Amends the Clayton Act with respect to actions brought by the Attorney General for violations of antitrust laws. Requires the Federal Trade Commission (FTC), but only under the Clayton Act, to exercise the same authority and procedures of the Attorney General specified in the Act with respect to the prohibition against acquisition by one corporation of the stock of another (merger) that may substantially lessen competition or tend to create a monopoly.</p> <p>Amends the Federal Trade Commission Act (FTCA) to exclude proposed mergers, acquisitions, joint ventures, or similar transactions from FTC proceedings.</p> <p>Grants jurisdiction to the U.S. district courts to issue writs of mandamus commanding compliance with the FTCA or any FTC order, if the FTC applies to such courts with respect to any activity related to consummation of a merger, acquisition, joint venture, or similar transaction that results in an unfair method of competition.</p>

tv_txt: I 113th CONGRESS 2d Session H. R. 5402 IN THE HOUSE OF REPRESENTATIVES September 8, 2014 Mr. Farenthold introduced the following bill; which was referred to the Committee on the Judiciary A BILL To amend the Clayton Act and the Federal Trade Commission Act to provide that the Federal Trade Commission shall exercise authority with respect to mergers only under the Clayton Act and only in the same procedural manner as the Attorney General exercises such authority.

1. Short title This Act may be cited as the Standard Merger and Acquisition Reviews Through Equal Rules Act of 2014 . 2. Amendments to the Clayton Act The Clayton Act ( 15 U.S.C. 12 et seq. ) is amended— (1) in section 4F— (A) in the heading by inserting or the Federal Trade Commission after United States , (B) in subsection (a)— (i) by inserting (or the Federal Trade Commission with respect to a violation of section 7) after United States , and (ii) by inserting (or it) after he each place it appears, and (C) in subsection (b) by inserting (or the Federal Trade Commission with respect to a violation of section 7) after United States , (2) in section 5— (A) in subsection (a) by inserting (including a proceeding brought by the Federal Trade Commission with respect to a violation of section 7) after United States , (B) in subsection (b) by inserting (including the Federal Trade Commission with respect to a violation of section 7) after United States each place it appears, (C) in subsection (c) by inserting (including the Federal Trade Commission with respect to a violation of section 7) after United States each place it appears, (D) in subsection (d) by inserting (including the Federal Trade Commission with respect to a violation of section 7) after United States each place it appears, (E) in subsection (e)(1) by inserting (including the Federal Trade Commission with respect to a violation of section 7) after United States , (F) in subsection (f)(4) by inserting (including the Federal Trade Commission with respect to a violation of section 7) after United States , (G) in subsection (g)— (i) by inserting (including the Federal Trade Commission with respect to a violation of section 7) after United States , (ii) by inserting (or the Federal Trade Commission) after General , and (iii) by inserting (or any officer or employee of the Federal Trade Commission) after Justice , and (H) in subsection (i) by inserting (including the Federal Trade Commission with respect to a violation of section 7) after United States , (3) in section 11(a) by inserting (excluding enforcing compliance with section 7) after commerce , (4) in section 13 by inserting (including the Federal Trade Commission with respect to a violation of section 7) after United States the 1st place it appears, and (5) in section 15 by inserting and the duty of the Federal Trade Commission with respect to a violation of section 7, after General, . 3. Amendments to the Federal Trade Commission Act The Federal Trade Commission Act ( 15 U.S.C. 41 ) is amended— (1) in section 5(b)— (A) by inserting (excluding the consummation of a proposed merger, acquisition, joint venture, or similar transaction subject to section 7 of the Clayton Act) after unfair method of competition , and (B) by inserting (excluding the consummation of a proposed merger, acquisition, joint venture, or similar transaction subject to section 7 of the Clayton Act) after method of competition the 2d and 3d places it appears, (2) in section 9 by inserting after the 4th undesignated paragraph the following: Upon the application of the commission with respect to any activity related to the consummation of a proposed merger, acquisition, joint venture, or similar transaction subject to section 7 of the Clayton Act that may result in any unfair method of competition, the district courts of the United States shall have jurisdiction to issue writs of mandamus commanding any person or corporation to comply with the provisions of this Act or any order of the commission made in pursuance thereof. , and (3) in section 13(b)(1) by inserting (excluding section 7 of the Clayton Act and section 5(a)(1) with respect to the consummation of a proposed merger, acquisition, joint venture, or similar transaction subject to section 7 of the Clayton Act) after Commission . 4. Effective date; application of amendments (a) Effective date Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act. (b) Application of amendments The amendments made by this Act shall not apply to any of the following that occurs before the date of enactment of this Act: (1) A violation of section 7 of the Clayton Act ( 15 U.S.C. 18 ). (2) A transaction with respect to which there is compliance with section 7A of the Clayton Act (15 U.S.C. 18a). (3) A merger, acquisition, joint venture, or similar transaction that is consummated.