Source: https://www.20xpl.cn/about-ftc/what-we-do/enforcement-authority
Timestamp: 2019-04-19 20:14:11+00:00

Document:
In merger investigations, the Commission also relies on Section 7A of the Clayton Act, 15 U.S.C. Sec. 18a, which was added by the Hart-Scott-Rodino?Act of 1976. Under Section 7A, if either of the parties is a certain size or if the proposed transaction is of requisite size, the parties must report the transaction to the government and wait a specified number of days before consummation. Should the Commission or the Department of Justice decide that further examination is warranted, they may seek additional information by issuing a "second request" to the parties. When such a request is issued, the waiting period is extended and the subject acquisition may not be consummated until the conclusion of a specified period following the parties' compliance with the request. Although parties are not technically obligated to comply with a second request, as they are with a subpoena, the price of noncompliance is that consummation of the transaction would be illegal. Thus, the premerger notification provisions of the Clayton Act are a powerful incentive for companies to submit information that the government needs to evaluate corporate acquisitions. Should the parties merge without observing the requirements of the Clayton Act, the Commission may seek both injunctive relief and civil penalties, as appropriate, under Section 7A(g) of the Clayton Act. The Commission may also grant an early termination of a waiting period. Notices of early termination are available on this site.
The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 requires that brand name drug manufacturers and generic drug applicants file certain agreements with the Federal Trade Commission and the Assistant Attorney General of the Antitrust Division of the Department of Justice within 10 business days of execution of the agreement. Information about what types of agreements must be filed, filing deadlines, and where to file, is set forth at //www.20xpl.cn/enforcement/premerger-notification-program/medicare-.... Unlike the merger review process under the Hart-Scott-Rodino Act, there is no prescribed timetable for the FTC's review. The FTC neither approves nor denies approval to the filed agreements.
The basic consumer protection statute enforced by the Commission is Section 5(a) of the FTC Act, which provides that "unfair or deceptive acts or practices?in or affecting commerce...are...declared unlawful." (15 U.S.C. Sec. 45(a)(1)). Safe Web amended Sec. 5(a) "unfair or deceptive acts or practices" to include such acts or practices involving foreign commerce that cause or are likely to cause reasonably foreseeable injury within the United States or involve material conduct occurring within the United States.
As discussed above,?Section 13(b) of the FTC Act empowers the Commission to obtain preliminary and permanent injunctive relief for violations of any provision of law that the Commission enforces. In the competition context, the Commission has used Section 13(b) primarily for the purpose of obtaining preliminary injunctive relief against corporate mergers or acquisitions pending completion of an FTC administrative proceeding. The Commission may also obtain permanent injunctive relief against an antitrust violation in an appropriate case, as well as disgorgement of unjust enrichment, restitution for injury suffered by consumers (e.g., the refund of overcharges attributable to price-fixing) or other appropriate equitable remedies. The Commission has filed several such actions, and the courts have repeatedly upheld our authority to do so. FTC v. Abbott Labs., 1992-2 Trade Cas. (CCH) ? 69,996 (D.D.C. filed Oct. 13, 1992), dismissed on other grounds, 853 F. Supp. 526 (D.D.C. 1994); FTC v. Mylan Laboratories, Inc. Cv. 98-3114 (TFH)(D.D.C. filed July 7, 1999).
Federal Trade Commission Act (15 U.S.C. §41 et seq.) administrative cease and desist authority [§5(b) FTCA] prosecution [§§ 1 & 2 Sherman?Act] ? ?
Injunctive Relief judicially ordered injunctive relief [§13(b) FTCA; also?§ 5(l) FTCA?(for violations of cease and orders)] ? ? ?
Redress judicially ordered redress [§13(b) FTCA] ? ? ?
Rulemaking [§6(g) FTCA] ? ? ?
Criminal Penalties referral to U.S. Department of Justice [§16(b) FTCA] ? ? ?
Clayton Act?(15 U.S.C. § 12?et seq.) administrative cease and desist authority [§11(b) Clayton Act] ? ? ?
Civil Penalties judicially ordered civil penalties for violating cease and desist orders [§11(l) Clayton Act; Commission Rule 1.98(b)] judicially ordered civil penalties [§7A(g)(1) Clayton Act; Commission Rule 1.98(a)] ? ?
Criminal Fines ? officer liability for corporate violation of penal provisions [§14Clayton Act] ? ?
?(15 U.S.C. §1?et seq.) ? ? ? ?
Miscellaneous ? forfeiture [§6 Sherman Act] ? ?
Federal Trade Commission Act?(15 U.S.C. §41?et seq.) administrative cease and desist authority [§5(b) FTCA] prosecution for violations of??§12(a) FTCA?[§14 FTCA] ?
Injunctive Relief judicially ordered injunctive relief [§13(b) FTCA; also?§13(a) FTCA?(for violations of?§12(a) FTCA) and?§5(l) FTCA?(for violations of cease and desist orders)] ?
Redress judicially ordered redress [§13(b) FTCA; also?§19(a)(1) FTCA?(for rule violations) and§19(a)(2) FTCA?(for "fraudulent or dishonest" conduct)] ?
Civil Penalties judicially ordered civil penalties for violating cease and desist orders [§5(l)?FTCA; also?§5(m)(1)(A) FTCA?(for violations of trade regulation rules) and §5(m)(1)(B) FTCA (for violations of adjudicatory holdings by non-parties)] [For current civil penalty maximums, see Commission Rules 1.98(c)-(e).] ?
Criminal Penalties referral to U.S. Department of Justice [§16(b) FTCA] ?
1.?This memo focuses exclusively on law enforcement by the Federal Trade Commission. Appendices A and B are charts that synopsize the allocation of antitrust and consumer protection powers under the FTC, Clayton, and Sherman Acts to the Commission and to other entities, i.e., the Department of Justice, state enforcers, and private parties. Appendix B covers only the Federal Trade Commission Act. Summaries of Commission enforcement authority under other statutes are available on this site.
2.?"Corporation" is defined to include any company, trust or association, incorporated or unincorporated, "which is organized to carry on business for its own profit or that of its members (FTC Act Sec. 4, 15 U.S.C. Sec. 44).
3.?Commission policies contemplate the disclosure of certain industry-wide investigations. The Commission will also publicly acknowledge that a particular merger or other transaction is being investigated under Sections 7 and 11 of the Clayton Act in situations where a party to the transaction has disclosed its existence in a press release or other public filing. In addition,?the Commission permits?limited disclosures about nonmerger investigations where: (1) a target has publicly disclosed the relevant information in either a press release or a filing with a government agency; or (2) the investigation or the practice has received substantial publicity and the disclosure does not identify a target that has not already disclosed its own identity.
5.?Id. For the current applicable civil penalty maximum, see Commission Rule 1.98(d).

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