For the first time in its more than 100-year history, the Federal Trade Commission yesterday issued first-of-its-kind guidance on what it considers “unfair” competition.
The FTC’s “Statement of Enforcement Principles” describes the underlying antitrust principles that guide the Commission’s application of its statutory authority to take action against “unfair methods of competition” prohibited by Section 5 of the FTC Act but not necessarily by the Sherman or Clayton Act. “The statement formally aligns Section 5 with the Sherman and Clayton Acts,” said FTC Chairwoman Edith Ramirez.
