Stay current on the latest developments from agencies including the CFPB, Federal Reserve, FDIC, and OCC to advise clients on real-life regulatory situations.
House Democrats’ proposals to update antitrust laws could go beyond merger reviews to examine whether certain types of conduct, such as inappropriate noncompete clauses, should be deemed automatically illegal, Rep. David Cicilline (D-R.I.) told Bloomberg Law.
Public interest groups like the Open Markets Institute are pressuring Congress to modernize antitrust laws in light of concerns that too much power is being concentrated among corporate giants.
Cicilline and other Democrats recently formed the House Antitrust Caucus to take a close look at the issue. Rep. Keith Ellison (D-Minn.) this week introduced legislation (H.R. 4538) requiring more extensive reviews of mega mergers.
“I think some of the obvious things to look at are some of the standards that apply in these [merger] reviews and whether or not there’s some conduct that ought to be ‘per se’ anticompetitive,” Cicilline said Dec. 6 after delivering formal remarks at an event in Washington hosted by the Open Markets Institute.
In his formal remarks, he described how noncompete clauses can be anticompetitive and harm workers. There is “widespread use of noncompete clauses in everyday employment contracts is a fundamental threat to workers’ economic freedom and mobility,” he said. “These clauses are widespread, even among workers who do not possess trade secrets, such as workers in the fast-food industry.”
The House Antitrust Caucus was formed in October to educate members and staff about competition policy. On Dec. 1, the group hosted an event focused on concentration in the digital economy.
Sen. Amy Klobuchar (D-Minn.) is leading a similar antitrust overhaul effort in the Senate. Legislation introduced by Klobuchar (S. 1812) would require companies to prove their mega-deals are good for competition before they can get government approval, among other changes.
To contact the reporter on this story: Alexei Alexis in Washington at firstname.lastname@example.org
To contact the editor responsible for this story: Fawn Johnson at email@example.com
Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)