Simpson Thacher Attorneys Author Article on New FTC Section 5 Policy Statement
12.15.22
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Antitrust Partners Abram Ellis, Peter Guryan, Preston Miller, Sara Razi and John Terzaken, and Associate Allison Davido, authored an article titled, “New FTC Section 5 Policy Statement Targeting Unfair Methods of Competition Related to Mergers and Conduct Signals Significant Policy Change,” which was published by The M&A Lawyer. The article analyzes the FTC’s 2022 policy statement regarding Section 5, which expands the scope of the types of conduct that will be subject to enforcement as “unfair methods of competition” and takes the position that Section 5 reaches beyond the Sherman and Clayton Acts, as well as identifies guidelines and principles describing the kinds of conduct that will now be subject to enforcement under Section 5. The article also details the FTC’s prior enforcement of Section 5, as well as its intentions for future enforcement, which may include the prosecution of a wider range of conduct. It additionally concludes that the statement, which represents a significant departure from past FTC practice, signals the FTC’s intent to expand its authority to prohibit a wide array of conduct it deems to be unfair.
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