Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

U.S. FTC names Rebecca Slaughter acting chair of the agency

Published 01/21/2021, 01:46 PM
Updated 01/21/2021, 02:30 PM
© Reuters. FILE PHOTO: Federal Trade Commissioner Slaughter testifies in Washington

WASHINGTON (Reuters) - The U.S. Federal Trade Commission said on Thursday that Rebecca Kelly Slaughter had been designated the acting chair of the agency.

The outgoing chairman, Joseph Simons, said on Tuesday that he would resign effective Jan. 29, along with members of his senior staff.

The five-member FTC is also losing Commissioner Rohit Chopra, who has been nominated to head the Consumer Financial Protection Bureau. It is not immediately clear when he will leave the FTC.

With those departures, Slaughter will be working with two Republican commissioners, Noah Phillips and Christine Wilson.

The agency enforces antitrust law, along with the Justice Department, as well as laws against deceptive advertising. It is also involved in online privacy matters.

The agency filed a big antitrust lawsuit against Facebook Inc (NASDAQ:FB) last month, which accused the social media giant of seeking to either buy or crush smaller competitors. The lawsuit is one of several filed by federal and state enforcers against Google (NASDAQ:GOOGL) or Facebook.

It has also negotiated a record-breaking $5 billion fine with Facebook in 2019 following allegations that it violated a 2012 consent decree by sharing users' information with British consulting firm Cambridge Analytica, whose clients included President Donald Trump's 2016 campaign.

The agency also has an antitrust investigation underway of Amazon.com (NASDAQ:AMZN).

© Reuters. FILE PHOTO: Federal Trade Commissioner Slaughter testifies in Washington

"I am deeply honored and grateful to lead an agency that is critical to helping the U.S. economy get back on its feet and function more fairly for all Americans," Slaughter said in a statement.

Latest comments

What a slaughter of free speech
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.