FTC to Review Antitrust Laws

The Federal Trade Commission plans to host a series of hearings this fall to examine possible changes in laws and policies about competition and consumer protection.

“As our economy moves in new directions, we must be sure antitrust and consumer protection enforcement continues to protect the operation of the free market and does not unduly hamper the ability of U.S. firms to succeed in international competition,” FTC Chairman Robert Pitofsky said.

“We want to know what is working well in our enforcement policy and what may need some adjustment,” Pitofsky said.

The hearings have been a pet project for Pitofsky since he took office in April. On the day after his Senate confirmation, Pitofsky talked about plans for an ambitious top-to-bottom review of antitrust law.

Topics for the hearings include questions about whether the traditional focus--on market share and price competition--is relevant when regulators look at companies that primarily compete for innovation in new technologies or companies that face worldwide competition in global markets.

The agency is also seeking comments about whether it should give greater weight in merger reviews to arguments that a business combination can create efficiencies of scale, and whether companies in declining industries should be treated differently.

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