Today, the Federal Trade Commission issued a new policy statement outlining the agency’s powers to address “unfair methods of competition” under Section 5 of the FTC Act, clearing the way for new agency action to curb anti-competitive behavior in Big Tech and across the economy.
The announcement follows the agency’s move last year to rescind its 2015 competition policy statement that had curtailed the FTC’s ability to create competition rules and limited the kinds of enforcement actions it could bring against dominant firms that engaged in anti-competitive practices. Public Knowledge previously applauded the decision to rescind that policy statement, suggesting that a new statement would prove an important next step. Now, we have that new statement.
The following can be attributed to Charlotte Slaiman, Competition Policy Director at Public Knowledge:
“Today, we celebrate a momentous accomplishment by the staff and leadership of the Federal Trade Commission. This new Section 5 statement is the roadmap to a brighter future for consumers, small businesses, entrepreneurs, workers, and all of us. It will reinvigorate antitrust enforcement at a critical juncture. Built on a sturdy foundation of exhaustive legal precedent, textual analysis, and original intent, the statement reclaims key latent authority to greatly expand what the FTC can and must do to fight the misuse of corporate power by Big Tech and across the economy. Now it’s time for the FTC to use this authority for bold enforcement actions and rulemaking.”
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