As part of the Federal Trade Commission's systematic review of all current FTC rules and guides, the agency is announcing its updated 10-year review schedule. In 2011, the FTC accelerated its regulatory review program, so that by the end of this year more than one-third of its 65 rules and industry guides will have been reviewed or will be under review. The FTC is currently reviewing 22 rules and guides, and will initiate three more reviews this year, to ensure that its rules and guides are up-to-date, effective, and not overly burdensome.
The FTC has been reviewing its rules and guides on a rotating basis since 1992. Rules and guides can be critically important for protecting consumers, but they need to be reviewed periodically. In conducting the reviews and seeking public comment, the agency considers the following questions:
The review schedule is published each year, with adjustments in response to public input, changes in the marketplace, and resource demands.
Upcoming Regulatory Reviews
For 2012, the FTC plans to initiate reviews, and seek public comment on, the following guides:
In addition, the FTC is consolidating the reviews of several rules involving the Hart-Scott-Rodino Antitrust Improvements Act (HSR), a federal antitrust law designed to prevent anticompetitive mergers or acquisitions. Specifically, the Commission is consolidating its reviews of the HSR Coverage, Exemption, and Transmittal Rules. The review of these three rules is now scheduled to take place in 2020.
Rules Rescinded Due to the Dodd-Frank Act
The FTC's rulemaking authority for nine other rules has transferred to the Consumer Financial Protection Bureau under the Dodd-Frank Act. As a result, the FTC is rescinding the following rules:
The CFPB has republished these rules on an interim final basis, and the CFPB's rules became effective on December 30, 2011. The FTC will continue to enforce these rules.
Retained Rulemaking Authority Regarding Auto Dealers
Although the FTC is rescinding nine rules pursuant to the Dodd-Frank Act, the FTC retains rulemaking authority for six rules issued under the Fair Credit Reporting Act, and one rule under the Gramm-Leach-Bliley Act, as they apply to motor vehicle dealers:
Additional Rulemaking Authority Retained by the FTC
Under the Dodd-Frank Act, the FTC retains rulemaking authority for the FCRA Disposal Rule (16 CFR, Part 682), the Identity Theft Red Flags Rule (16 CFR, Part 681.1), and the Gramm-Leach-Bliley Act's Safeguards Rule (16 CFR Part 314).
Other Review Schedule Changes
Due to resource constraints, the FTC is announcing the following changes for matters previously scheduled for review in 2012:
The Commission votes to publish the proposed Federal Register notices regarding its regulatory review program and rescission of the rules were 4-0.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC's online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC's Web site provides free information on a variety of consumer topics. Like the FTC on Facebook and follow us on Twitter.