Federal Trade Commission (FTC),
Definition of Federal Trade Commission (FTC):
The Federal Trade Commission (FTC) was established in 1914 by the Federal Trade Commission Act, as part of the Wilson administration's trust-busting efforts, trust-busting being a significant concern at the time. It was tasked with enforcing the Clayton Act, which banned monopolistic practices. The FTC continues to discourage anticompetitive behavior through the Bureau of Competition, which reviews proposed mergers together with the Department of Justice. As the years have passed, the FTC has been tasked with enforcing additional business regulations, as codified in Title 16 of the Code of Federal Regulations.
The U.S. government agency responsible for regulating trade. The FTCs chief focus is to prevent fraud and deceptive business practices and to ensure fair competition. See Antitrust; Monopoly.
The Federal Trade Commission (FTC) is an independent agency of the U.S. government that aims to protect consumers and ensure a strong competitive market by enforcing consumer protection and antitrust laws. Its principal purpose is to enforce non-criminal antitrust laws in the United States, by preventing and eliminating anticompetitive business practices, including coercive monopoly. The FTC also seeks to protect consumers from predatory or misleading business practices.
How to use Federal Trade Commission (FTC) in a sentence?
- FTC activities include investigating fraud or false advertising, congressional inquiries, and pre-merger notification.
- The FTC also handles scams and unfair business practices.
- The FTC enforces antitrust laws and protects consumers from predatory practices.
Meaning of Federal Trade Commission (FTC) & Federal Trade Commission (FTC) Definition