The Federal Competition and Consumer Protection Act
("FCCPA") was signed into law on 30 January 2019. The
FCCPA established the Federal Competition and Consumer Protection
Commission ("FCCPC") and repealed the provisions of the
Investments and Securities Act (ISA) relating to mergers and other
business combination control.
With the passage of the Act, the FCCPC was vested with the
powers to review all mergers and business combinations to ensure
that such combinations do not distort or impede the markets; a
function which was previously handled by the SEC.
The FCCPC and SEC have now issued a joint statement to clarify
the status of pending applications and provide guidance for new
applications.
