COB 218 Chapter Notes - Chapter 5: Federal Trade Commission, Federal Trade Commission Act Of 1914, Rulemaking

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Document Summary

Administrative law is created by administrative agencies (a federal or state government agency established to perform a specific function) Congress created the federal trade commission (ftc) in the federal trade commission act, which prohibits unfair and deceptive trade practices. It also describes the procedures that the agency must follow to charge persons or organizations with violations of the act, and it provides for judicial review of agency orders. The act grants the ftc the power to: create rules and regulations for the purpose of carrying out the act , conduct investigations of business practices, obtain reports from interstate corporations concerning their business practices. Investigate possible violations of federal antitrust statutes: publish findings of its investigations, recommend new legislation, hold trial-like hearing to resolve certain kinds of trade disputes that involve ftc regulations or federal antitrust laws. Major functions of an administrative agency is rulemaking (formally adopting new regulations or amending old ones.

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