The American Investment Council urged FTC to withdraw its proposal to "comprehensive[ly] redesign" the premerger notification form. The Council argued that FTC lacks statutory authority to demand nearly all of the information that would be newly required.
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The Managed Funds Association urged the FTC to withdraw its proposed amendments to "redesign" the premerger notification process.
SIFMA and FIA urged the FTC not to adopt its proposed "Non-Compete Clause Rule," which would effectively prevent employers from implementing non-compete clauses.
In response to the FTC and DOJ's Request for Information on modernizing enforcement of the antitrust laws regarding mergers, industry groups raised concerns about incorporating the "common ownership hypothesis" into the guidelines and faulty built-in assumptions underlying mergers.
In a joint letter, financial industry trade associations asked U.S. Senate Majority Leader Senator Charles E. Schumer and Minority Leader Senator Mitch McConnell not to include proposed legislation titled the Modernization of Derivatives Tax Act of 2021 in any budget reconciliation process.