(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Standard Merger and Acquisition Reviews Through Equal Rules Act of 2017
(Sec. 2) This bill amends the Clayton Act with respect to notice to a state by the Department of Justice (DOJ) about federal actions brought for violations of antitrust laws. Currently DOJ must:
The Federal Trade Commission (FTC) shall exercise the same authority and procedures as DOJ under the Clayton Act if the FTC has brought an action under the same Act with respect to the prohibition against acquisition by one corporation of the stock of another (merger) that may substantially lessen competition or tend to create a monopoly.
Also in cases brought by the FTC that result in final judgments against a defendant, those judgments shall be prima facie evidence of antitrust violations under substantially similar facts in actions brought by other parties.
The statute of limitations shall be tolled during a proceeding brought by the FTC under such Act, and for one year thereafter, for any private and state rights of action based on the conduct in question during the proceeding.
The FTC shall enforce compliance with the Act in the same manner as DOJ in acting to prevent or restrain antitrust violations. The FTC shall enforce a consent order, however, in the same manner it does already.
(Sec. 3) The Federal Trade Commission Act (FTCA) is amended to exclude proposed mergers, acquisitions, joint ventures, or similar transactions from ordinary FTC proceedings, except in cases where the FTC approves an agreement with the parties to the transaction that contains a consent order.
U.S. district courts shall have jurisdiction to issue writs of mandamus commanding compliance with the FTCA or any FTC order, if the FTC applies to such courts with respect to any activity related to consummation of a merger, acquisition, joint venture, or similar transaction that may result in an unfair method of competition.
[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 659 Introduced in House (IH)]
<DOC>
115th CONGRESS
1st Session
H. R. 659
To amend the Clayton Act and the Federal Trade Commission Act to
provide that the Federal Trade Commission shall exercise authority with
respect to mergers only under the Clayton Act and only in the same
procedural manner as the Attorney General exercises such authority.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 24, 2017
Mr. Farenthold (for himself, Mr. Goodlatte, Mr. Marino, Mr. Bucshon,
Mr. Collins of Georgia, and Mr. Messer) introduced the following bill;
which was referred to the Committee on the Judiciary
_______________________________________________________________________
A BILL
To amend the Clayton Act and the Federal Trade Commission Act to
provide that the Federal Trade Commission shall exercise authority with
respect to mergers only under the Clayton Act and only in the same
procedural manner as the Attorney General exercises such authority.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Standard Merger and Acquisition
Reviews Through Equal Rules Act of 2017''.
SEC. 2. AMENDMENTS TO THE CLAYTON ACT.
The Clayton Act (15 U.S.C. 12 et seq.) is amended--
(1) by striking section 4F and inserting the following:
``SEC. 4F. ACTIONS BY ATTORNEY GENERAL OF THE UNITED STATES OR THE
FEDERAL TRADE COMMISSION.
``(a) Whenever the Attorney General of the United States has
brought an action under the antitrust laws or the Federal Trade
Commission has brought an action under section 7, and the Attorney
General or Federal Trade Commission, as applicable, has reason to
believe that any State attorney general would be entitled to bring an
action under this Act based substantially on the same alleged violation
of the antitrust laws or section 7, the Attorney General or Federal
Trade Commission, as applicable, shall promptly give written
notification thereof to such State attorney general.
``(b) To assist a State attorney general in evaluating the notice
described in subsection (a) or in bringing any action under this Act,
the Attorney General of the United States or Federal Trade Commission,
as applicable, shall, upon request by such State attorney general, make
available to the State attorney general, to the extent permitted by
law, any investigative files or other materials which are or may be
relevant or material to the actual or potential cause of action under
this Act.'';
(2) in section 5--
(A) in subsection (a) by inserting ``(including a
proceeding brought by the Federal Trade Commission with
respect to a violation of section 7)'' after ``United
States under the antitrust laws''; and
(B) in subsection (i) by inserting ``(including a
proceeding instituted by the Federal Trade Commission
with respect to a violation of section 7)'' after
``antitrust laws'';
(3) in section 11, by adding at the end the following:
``(m)(1) Except as provided in paragraph (2), in enforcing
compliance with section 7, the Federal Trade Commission shall enforce
compliance with that section in the same manner as the Attorney General
in accordance with section 15.
``(2) If the Federal Trade Commission approves an agreement with
the parties to the transaction that contains a consent order with
respect to a violation of section 7, the Commission shall enforce
compliance with that section in accordance with this section.'';
(4) in section 13, by inserting ``(including a suit,
action, or proceeding brought by the Federal Trade Commission
with respect to a violation of section 7)'' before
``subpoenas''; and
(5) in section 15, by inserting ``and the duty of the
Federal Trade Commission with respect to a violation of section
7,'' after ``General,''.
SEC. 3. AMENDMENTS TO THE FEDERAL TRADE COMMISSION ACT.
The Federal Trade Commission Act (15 U.S.C. 41) is amended--
(1) in section 5(b), by inserting ``(excluding the
consummation of a proposed merger, acquisition, joint venture,
or similar transaction that is subject to section 7 of the
Clayton Act (15 U.S.C. 18), except in cases where the
Commission approves an agreement with the parties to the
transaction that contains a consent order)'' after ``unfair
method of competition'';
(2) in section 9, by inserting after the fourth
undesignated paragraph the following:
``Upon the application of the commission with respect to any
activity related to the consummation of a proposed merger, acquisition,
joint venture, or similar transaction that is subject to section 7 of
the Clayton Act (15 U.S.C. 18) that may result in any unfair method of
competition, the district courts of the United States shall have
jurisdiction to issue writs of mandamus commanding any person or
corporation to comply with the provisions of this Act or any order of
the commission made in pursuance thereof.'';
(3) in section 13(b)(1), by inserting ``(excluding section
7 of the Clayton Act (15 U.S.C. 18) and section 5(a)(1) with
respect to the consummation of a proposed merger, acquisition,
joint venture, or similar transaction that is subject to
section 7 of the Clayton Act (15 U.S.C. 18))'' after
``Commission''; and
(4) in section 20(c)(1), by inserting ``or under section 7
of the Clayton Act (15 U.S.C. 18), where applicable,'' after
``Act,''.
SEC. 4. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.
(a) Effective Date.--Except as provided in subsection (b), this Act
and the amendments made by this Act shall take effect on the date of
the enactment of this Act.
(b) Application of Amendments.--The amendments made by this Act
shall not apply to any of the following that occurs before the date of
enactment of this Act:
(1) A violation of section 7 of the Clayton Act (15 U.S.C.
18).
(2) A transaction with respect to which there is compliance
with section 7A of the Clayton Act (15 U.S.C. 18a).
(3) A case in which a preliminary injunction has been filed
in a district court of the United States.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on the Judiciary.
Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported by the Yeas and Nays: 16 - 10.
Reported by the Committee on Judiciary. H. Rept. 115-412.
Reported by the Committee on Judiciary. H. Rept. 115-412.
Placed on the Union Calendar, Calendar No. 304.
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