Key Points The Federal Trade Commission (FTC) issued a Policy Statement that dramatically broadens its approach to enforcement of Section 5 of the FTC Act, which prohibits “unfair methods of competition.” The FTC is taking the position that Congress created the Commission to address competitive ills not reached by the Sherman or Clayton Act. The new approach departs from the Obama-era FTC and will seek to combat any conduct that the agency deems coercive, exploitative, or collusive, even in its incipiency, or that violates the “spirit” of the antitrust laws. The Policy Statement lists a wide range of conduct that could potentially fall under its purview, but offers little by way of practical guidance on how the agency will actually enforce the law, creating uncertainty and potential

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