After reading the material in this chapter, you should be able to: Describe the powers granted to the FTC and the key features of an adjudicative hearing, identify and explain the elements of the deception and unfairness tests employed by the FTC, explain the FTC’s implementation of many consumer protection laws. | Regulation of Business Administrative Agencies The Federal Trade Commission Act and Consumer Protection Laws Antitrust: The Sherman Act 11 McGraw-Hill/Irwin Business Law, 13/e © 2007 The McGraw-Hill Companies, Inc. All rights reserved. Regulation of Business The Clayton Act, The Robinson-Patman Act, and Antitrust Exemptions and Immunities Employment Law Environmental Regulation 11 McGraw-Hill/Irwin Business Law, 13/e © 2007 The McGraw-Hill Companies, Inc. All rights reserved. THE FEDERAL TRADE COMMISSION ACT AND CONSUMER PROTECTION LAWS P A E T R H C 48 “The most exciting thing happening in business is the rise of vigilante consumers.” Anita Roddick, The Body Shop founder, Marketing Week (Feb. 24, 2000) Learning Objectives The Federal Trade Commission Anticompetitive behavior and deceptive practices Consumer protection laws 48 - General rule is caveat emptor – let the buyer beware – but Federal Trade Commission Act of 1914 created the Federal Trade Commission (FTC) as independent | Regulation of Business Administrative Agencies The Federal Trade Commission Act and Consumer Protection Laws Antitrust: The Sherman Act 11 McGraw-Hill/Irwin Business Law, 13/e © 2007 The McGraw-Hill Companies, Inc. All rights reserved. Regulation of Business The Clayton Act, The Robinson-Patman Act, and Antitrust Exemptions and Immunities Employment Law Environmental Regulation 11 McGraw-Hill/Irwin Business Law, 13/e © 2007 The McGraw-Hill Companies, Inc. All rights reserved. THE FEDERAL TRADE COMMISSION ACT AND CONSUMER PROTECTION LAWS P A E T R H C 48 “The most exciting thing happening in business is the rise of vigilante consumers.” Anita Roddick, The Body Shop founder, Marketing Week (Feb. 24, 2000) Learning Objectives The Federal Trade Commission Anticompetitive behavior and deceptive practices Consumer protection laws 48 - General rule is caveat emptor – let the buyer beware – but Federal Trade Commission Act of 1914 created the Federal Trade Commission (FTC) as independent agency to keep . economy both free and fair FTC enforcement devices: issuing trade regulation rules, facilitating voluntary compliance, and adjudicative proceedings The FTC 48 - FTC trade regulation rules have force of law and FTC can proceed directly against those who engage in prohibited practices FTC promotes voluntary compliance with best practices and regulations by issuing advisory opinions and industry guides FTC may take internal administrative action against those who violate regulations Adjudicative proceeding or order FTC Enforcement Devices 48 - FTC trade regulation rules have the force of law and FTC can proceed directly against those who engage in prohibited practices: Adjudicative proceeding Civil penalty up to $10,000 for each knowing violation of a rule Court proceedings to obtain consumer remedies, such as damages, refund of money, return of property, or the reformation or rescission of contracts FTC promotes voluntary compliance with best practices and .
