Meta Platforms:Regulatory Environment: Difference between revisions

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→‎New Bills Proposals

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 ==== <big>Competition and Antitrust Law Enforcement Reform Act</big> ====
-Reintroduced  on 05/09/2024
+Reintroduced  on 05/09/2024<ref>https://www.billtrack50.com/billdetail/1736653</ref><ref>https://www.klobuchar.senate.gov/public/index.cfm/2024/5/klobuchar-reintroduces-bill-to-promote-competition-and-improve-antitrust-enforcement</ref><ref>https://www.congress.gov/bill/118th-congress/senate-bill/4308/text</ref>
 <u>Sponsors</u>
 Amy Klobuchar (D)*,  Richard Blumenthal (D),  Cory Booker (D),  Martin Heinrich (D),  Mazie Hirono (D),  Ed Markey (D),  Brian Schatz (D),  Tina Smith (D),  Mark Warner (D),  Peter Welch (D),  Sheldon Whitehouse (D),  Ron Wyden (D),
+Here are the key changes it proposes:
+. '''Increase Enforcement Resources''':
+* '''Budget Increases''': Authorizes significant budget increases for the DOJ’s Antitrust Division and the FTC to ensure they have adequate resources to address the growing number of merger filings and complex antitrust cases
+. '''Strengthen Prohibitions Against Anticompetitive Mergers''':
+* '''Update Legal Standard for Mergers''': Changes the standard from "substantially lessen competition" to "create an appreciable risk of materially lessening competition" where "materially" means more than a de minimus amount. This lower threshold makes it easier to block mergers that could harm competition
+* '''Burden of Proof Shift''': For certain high-risk mergers, the burden of proof shifts to the merging companies to show that their merger will not harm competition. This includes mergers that significantly increase market concentration, acquisitions of competitors by dominant firms, and mega-mergers valued over $5 billion
+. '''Prevent Harmful Dominant Firm Conduct''':
+* '''Exclusionary Conduct''': Introduces a new provision under the Clayton Act to prohibit exclusionary conduct (behavior that materially disadvantages competitors) that presents an appreciable risk of harming competition
+* '''Algorithmic Collusion''': Addresses price-fixing facilitated by algorithms by presuming price-fixing agreements when direct competitors share competitively sensitive information through pricing algorithms .
+. '''Enhance Market Studies and Merger Retrospectives''':
+* '''Independent FTC Division''': Establishes a new division within the FTC to conduct market studies and merger retrospectives to understand the impact of past mergers and inform future enforcement actions
+. '''Additional Reforms''':
+* '''Civil Fines''': Allows the imposition of civil fines for antitrust violations to deter anti-competitive behavior.
+* '''Whistleblower Protections''': Strengthens protections for whistleblowers who report antitrust violations.
+* '''Forced Arbitration''': Prohibits forced arbitration in class action lawsuits, allowing plaintiffs more opportunity to pursue legal action in court
+. '''Modernizing Antitrust Enforcement''':
+* '''Sector-Specific Focus''': Recognizes the unique challenges posed by digital markets and proposes adjustments to better handle antitrust issues in the tech industry.
+* '''Dynamic Interpretation of Laws''': Encourages a more dynamic interpretation of existing antitrust laws to keep pace with evolving business practices and technological advancements <br />
 ==== <big>American Innovation and Choice Online Act</big> ====
 The '''American Innovation and Choice Online Act''' aimed to curb anti-competitive practices by major online platforms. '''It had bi partisan support and it still failed to even reached congress.''' <ref>https://www.billtrack50.com/billdetail/1391362</ref><blockquote>The American Innovation and Choice Online Act (“AICOA”)(S.2992 / H.R.3816) failed to pass because of serious privacy, security, and content moderation problems that were identified early on but never adequately addressed by sponsors and supporters.