FTC.gov is the public website of the United States Federal Trade Commission (FTC). The FTC is an agency of the United States government. Its primary mission is to regulate business practices to protect consumers from exploitation. The agency was formed in 1914 under the Wilson administration.http://www.enotes.com/small-business-encyclopedia/federal-trade-commission-ftc
Blogging Disclosure Rules
FTC.gov announced that beginning December 1, 2009 bloggers, Twitterers, and many others who write online content must disclose payment from companies about whom they write. "Payment" would include free merchandise.http://www.nytimes.com/2009/10/15/fashion/15bloggers.html
Pfizer Settlement
On October 14, 2009, the FTC announced through FTC.gov that it had reached a settlement with Pfizer Inc, resolving the agency's investigation of the pharmaceutical manufacturer's proposed $68 billion acquisition of Wyeth. The settlement requires that the company make significant divestitures to preserve competition in markets for animal pharmaceuticals and vaccines.http://www.ftc.gov/opa/2009/10/pfizer.shtm
Federal Trade Commission Background
The Federal Trade Commission deals with many issues that affect both businesses and consumers every day in the United States. The agency has powers to ensure consumer protection and regulate competition among businesses. The FTC has law enforcement powers and seeks to advance consumers' interests by working with federal and state legislatures and cooperate with American and international agencies. The Federal Trade Commission was created in 1914 with the primary purpose to prevent unfair methods of competition in commerce. It was part of the progressive era's effort to "bust the trusts." The U.S. Congress has enhanced the powers of the agency over the years by passing additional legislation. Congress passed a broad prohibition against "unfair and deceptive acts or practices" in 1938. Other laws passed which fall under the agency's jurisdiction include the Telemarketing Sales Rule, the Pay-Per-Call Rule and the Equal Credit Opportunity Act. The work of the agency is divided between three Bureaus: Consumer Protection, Competition and Economics. Seven regional offices and the Office of General Counsel help perform the duties of the agency.http://www.ftc.gov/ftc/about.shtm
