FTC Expansion Omitted in Final Wall Street Reform Bill

The major pending financial regulatory reform bill (the Dodd-Frank Bill (HR 4173/S3217), was finalized without providing the FTC with additional enforcement and rulemaking powers. As we had previously written, the House version of the bill included provisions granting the FTC greater discretion in initiating rulemaking, permitting the FTC the right to impose civil monetary penalties without the involvement of the Department of Justice, and increasing the exposure for suppliers to marketers. The Senate version did not include these provisions. Ultimately, the chambers agreed on a version that did not include the expansion of the FTC authority.

Given the increased scrutiny certain Senators are placing on marketing activities, such as Senate Commerce Committee Chairman Jay Rockefeller (see related article here), marketers and suppliers should expect new efforts towards expanding FTC authority.

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