Federal Trade Commission Amendments

Summary

Federal Trade Commission Amendments - Imposes, under the Federal Trade Commission Act, a civil penalty of $5,000 per day for each day any person, partnership, or corporation fails to provide reports or documentary evidence or fails to testify before the Federal Trade Commission when required to do so. Makes cease and desist orders of the Commission, after the 13th day following the due date of such information, final 60 days after such order is served unless stayed by an appropriate court. Sets forth the applicability of this Act to banks, common carriers, and air carriers. Empowers the Commission to have a trustee or receiver appointed by a district court whenever the Commission has reason to believe that a violation of law enforced by the Commission is about to occur and that such appointment would be in the public interest. Provides for the bringing of civil actions by consumers, partnerships, and corporations injured by any unfair or deceptive act or practice in State courts and in Federal court where the amount in controversy exceeds $25,000 in the aggregate. Specifies notice requirements when class suits are brought. Authorizes the Commission to make rules for the assessment of monetary sanctions where there is a failure to comply with discovery rules. Provides, under the Federal Trade Commission Act, that the appointment of any officer or employee of the Federal Trade Commission (other than a Commissioner) shall not be subject to review or approval by any entity within the Executive Office of the President. Requires that all recommendations by the Commission concerning legislation transmitted to the President or the Office of Management and Budget be concurrently transmitted to Congress. Requires the Commission to act upon a petition for the issuance, repeal, or amendment of a rule defining an unfair or deceptive act within 120 days after receipt of such petition. States that if such petition is for the issuance of a rule defining such an act and is denied or not acted upon by the Commission, the petitioner may have a district court of the United States issue an order requiring the Commission to initiate such a rule if such court finds that the practices sought to be proscribed have a substantial adverse effect on a significant number of persons and that the Commission's failure to issue a rule with respect to such petition will result in a continuation of such practices and their adverse effects. Directs the Commission to conduct a study to determine if the advertising of alcoholic beverages produced by distillers constitutes unfair or deceptive practices and if the Commission does determine such advertising does constitute such a practice to determine if existing legislative authority is sufficient to effectively prevent it. Authorizes to be appropriated to carry out the functions of the Federal Trade Commission $61,000,000 for fiscal year 1978, and $70,000,000 for fiscal year 1979.

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Documents

2 official files

• Conference report filed in House

  summary · EN · 8 September 1978

  Open at official source

• Introduced in House

  summary · EN · 22 February 1977

  Open at official source

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