CODES: FEDERAL Antitrust STATUTES & REGULATIONS Editor's Note: There are several statutes that create the basic framework of American antitrust law. Below you will find a link to each statute by name, along with a brief description of each. You can also find links on this page to various compilations of the federal antitrust statutes and related regulations.
The Sherman Act of 1890 - Section 1 of the Sherman Act outlaws "every contract, combination . . . , or conspiracy, in restraint of trade;" Section 2 of the Sherman Act makes it unlawful for a company to "monopolize, or attempt to monopolize," trade or commerce.
The Clayton Act - The Clayton Act is comprised of sections 12 - 27 of Title 15 of the U.S. Code. It was first enacted in 1914, and includes the Federal Trade Commission Act of 1914 (which is separately listed below); it was significantly amended in 1936 by the Robinson-Patman Act (listed separately below); and in 1950 by the Celler-Kefauver Antimerger Act.
Section 7 of the Clayton Act prohibits mergers and acquisitions where the effect "may be substantially to lessen competition, or to tend to create a monopoly."
The Treble Damages section of the Clayton Act, found at 15 USC 15, allows a person injured by a violation of the antitrust laws to "recover threefold the damages by him sustained."
The Tunney Act amendments to the Clayton Act, passed in 1974 and found at 15 USC 16(c) et seq., set forth procedures meant to assure that proposed antitrust settlements are in the public interest, including a thorough judicial review of the settlement and its competitive impact, a description and evaluation of the settlement and alternative remedies, a public comment period, and disclosure of governmental contacts by antitrust defendants.
The Labor Exemption § 6 of the Clayton Act (15 U.S.C. 17) states that the antitrust laws are not applicable to labor organizations.
Federal Trade Commission Act: Sec. 5 - Section 5 of the FTC Act outlaws "unfair methods of competition." The Supreme Court has ruled that violations of the Sherman Act are also violations of Section 5, and that Section 5 additionally covers some anticompetitive practices that are beyond the scope of the Sherman Act. Only the FTC can enforce Section 5. Most States have adopted "mini-FTC Acts" that cover similar practices.
Robinson-Patman Price Discrimination Act - §§ 13a, 13b, and 21a of the Clayton Act comprise the "Robinson-Patman Price Discrimination Act" (1936). The Robinson-Patman Act of 1936 makes it unlawful for any seller engaged in commerce to discriminate in the sale price charged on commodities of comparable grade and quality where the effect might injure, destroy, or prevent competition.
Hart-Scott-Rodino (H-S-R) Act and Rules - Section 7A of the Clayton Act, called the Hart-Scott-Rodino Act, requires the prior notification of large mergers to both the FTC and the Justice Department. Sections 15c-15h, and 18a comprise part of the "Hart-Scott-Rodino Antitrust Improvements Act of 1976." The related pre-merger notification rules are administered by FTC and DOJ, and can be found at the above link, and at 16CFR § 801-803..
H-S-R FAQs Answers to the Most Frequently Asked H-S-R Questions.
FTC Pre-Merger (H-S-R) Highlights Page
Parens Patriae Powers/State Attorneys General - Sec. 15c of Title 15 of the U.S. Code gives the state attorneys general the power to bring civil suits in Federal court on behalf of the persons residing in their state for violations of Section 1 through 7 of Title 15.
Wilson Tariff Act - Sections 8 and 9 of Title 15 of the U.S. Code make conspiracies in restraint of the import trade unlawful.
The McCarran-Ferguson Act Adopted by Congress in 1945, the McCarran-Ferguson Act (cited as 15 USC 1011, et seq.) clarifies the power of individual States to regulate insurance and limits the application of many federal statutes to that industry. Section 1012(b) of the Act states that the Sherman, Clayton, and Federal Trade Commission Acts are only "applicable to the business of insurance to the extent that such business is not regulated by State Law." However, Sec. 1013(b) continues the applicability of the Sherman Act "to any agreement to boycott, coerce, or intimidate, or act of boycott, coercion, or intimidation."
Sports Broadcasting Act of 1961 Congress enacted SBA as a statutory exemption to the antitrust laws. The Act (cited as 15 USC 1291) makes the federal antitrust laws inapplicable to any agreement transferring broadcasting rights made by an organized professional league involving the sports of football, baseball, basketball, or hockey. The Act was amended in 1966 to exempt the combining of professional football leagues.
National Cooperative Research and Production Act of 1933 Congress created this statutory "safe harbor" to encourage some types of innovative research and production activities. NCRPA clarifies how antitrust laws apply to joint ventures, such as research consortia, and encourages joint research and development by providing some protection to participants in these activities who follow the Act’s filing requirements and conduct limitations.
Guernsey's Links to Federal Antitrust Statutes - C.H. Guernsey & Company's Antitrust Links offer quick access to the text of all major Federal Antitrust statutes, by name and by citation to the U.S. Code. Links to all state antitrust laws are also collected at the site.
Statutes Enforced or Administered by the Federal Trade Com'n
Statutes enforced by DOJ, Antitrust Division
Relevant Statutory Enforcement Provisions Part B of this DOJ Antitrust Division manual (scroll to page 49 et seq. of this 99-page pdf document) contains descriptions of statutes related to the enforcement of the antitrust laws by the DOJ and FTC, including related criminal offenses for similar conduct, laws to protect the integrity of the prosecutorial process, procedural matters (such as witness immunity, statutes of limitations), witness and victim rights, and sentencing.
Antitrust Criminal Penalty Enhancement and Reform Act of 2004 As explained in a Kilpatrick Stockton report (June, 2004), this Act increases the maximum Sherman Act corporate fine to $100 million, the maximum individual fine to $1 million, and the maximum Sherman Act jail term to 10 years. The Act's "de-trebling" provision is intended to increase the incentive for corporations to self report illegal conduct.
The Code of Federal Regulations - The Code of Federal Regulations (CFR) is a codification of the general and permanent rules published in the Federal Register by the Executive departments and agencies of the Federal Government. The full text of CFR is available online, and can be searched by keyword or by citation, title or volume; you can also search the CFR for sections affected by new or proposed regulations.
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