FTC's Second Open Commission Meeting Continues To Highlight Competition Agenda

On July 21, 2021, the Federal Trade Commission ("FTC" or "Commission") held its second Open Commission Meeting. There were three items on the agenda: (1) whether or not to rescind a 1995 policy statement on prior approval and prior notice provisions in merger cases; (2) a proposed policy statement on repair restrictions; and (3) the repeal of the Care Labeling Rule.

Key takeaways from the meeting include:

• The FTC is continuing to take steps to strengthen competition and increase the agency's ability to use its authority to block potentially anticompetitive transactions. At the meeting, the Commissioners voted (3-2) to rescind a 1995 policy that had loosened merger review reporting requirements for companies that had entered into merger related settlements. By rescinding the policy statement, the FTC may be able to require prior notice or prior approval as a condition of any merger where a party is under a consent decree.