FTC Releases FAQs On CIDs

The Federal Trade Commission ("FTC") released FAQs for small businesses on what to do when you have received a Civil Investigative Demand from the FTC.  The FAQs -- authored by the Acting Director of the FTC's Bureau of Consumer Protection -- provide great guidance for companies who aren't familiar with the FTC's CID process.  Here are some of the highlights:

1.  Immediately after getting a CID, you should contact the FTC and arrange a "meet and confer" to set the schedule for responding to the CID and to address other preliminary issues;
2.  Once you receive a CID, you shouldn't destroy any documents that could be reasonably related to the FTC's investigation;
3.  It may take some time for the FTC to review your submission, but ordinarily the FTC will update you within 6 months after you have completed your submission; and