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Submission: On April 27 via manual from US — Scanned from US
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Skip to content U.S. Chamber of Commerce USCC HomepageU.S. Chamber of Commerce * Topics * Events * Work * * * Menu Close menu * Main Menu * Topics * Topics * Back * Antitrust * Climate Change * Data Privacy * Supply Chain * Workforce * All Video Topics * Chambers of Commerce * Climate Change * Corporate Social Responsibility * Diversity, Equity, and Inclusion * Economy * Employment Law * Energy * Environment and Sustainability * Finance * Health Care * Immigration * Improving Government * Infrastructure * Intellectual Property * International * Lawsuits * Regulations * Retirement * Security and Resilience * Small Business * Space * Taxes * Technology * Travel * Workforce * All Topics * Events * Events * Back * Upcoming Events * On Demand Videos * Video Topics * Video Speakers * Video Series * * * * All Events * Work * Work * Back * Major Initiatives * Shaping Policy * Thought Leadership * Economic Data * Press * For Small Businesses * For Chambers of Commerce * For Associations * Permit America to Build * Americans Deserve a Transparent and Accountable FTC * America Works Initiative * All Programs * More from the Chamber * More from the Chamber * Back * About Us * Leadership * Governance * Newsroom * Chamber on the Record * Regional Offices * Careers * Contact Us * Join Close menu Trending Topics * Antitrust * Climate Change * Data Privacy * Supply Chain * Workforce * All Video Topics * All Topics * Chambers of Commerce * Climate Change * Corporate Social Responsibility * Diversity, Equity, and Inclusion * Economy * Employment Law * Energy * Environment and Sustainability * Finance * Health Care * Immigration * Improving Government * Infrastructure * Intellectual Property * International * Lawsuits * Regulations * Retirement * Security and Resilience * Small Business * Space * Taxes * Technology * Travel * Workforce Close menu * Upcoming Events * On Demand Videos * Video Topics * Video Speakers * Video Series * All Events Small BusinessCO— Strategy Studio: Small Business DayThursday, May 0401:00 PM EDT - 02:00 PM EDTLearn More International13th Annual China Business ConferenceMonday, May 08 - Wednesday, May 1005:30 PM EDT - 04:00 PM EDTLearn More Workforce7th Annual Military Spouse Employment SummitThursday, May 1801:00 PM EDT - 05:00 PM EDTLearn More Close menu * Major Initiatives * Shaping Policy * Thought Leadership * Economic Data * Press * For Small Businesses * For Chambers of Commerce * For Associations * All Programs EnergyPermit America to BuildBolstering America’s strength and competitiveness by modernizing the permitting process necessary to build critical infrastructure.Learn More FinanceAmericans Deserve a Transparent and Accountable FTCThe Federal Trade Commission’s (FTC) recent actions are alarming and pose a serious threat to our economy.Learn More WorkforceAmerica Works InitiativeHelping your company and our country solve our workforce challenges.Learn More Close search Site searchEnter your search query Submit WHEN COOPERATION CROSSES THE LINE Is the Federal Trade Commission working foreign authorities to deny due process? * Topics/ * Finance/ * Antitrust/ Sean Heather Senior Vice President, International Regulatory Affairs & Antitrust, U.S. Chamber of Commerce Published February 23, 2023 Share * * * The U.S. Chamber of Commerce has led the effort to hold the Federal Trade Commission’s accountable for its overreach. As part of our efforts, the Chamber submitted a FOIA request to the agency in January 2022 requesting communications the agency had with foreign competition authorities on an American biotech merger between two companies, Illumina and Grail. READ MORE * What's Going on at the FTC? * U.S. Chamber Letter on FTC Oversight * Inside the FTC’s Ploy to Quash A BioTech Merger Ultimately to obtain the information, the Chamber had to sue the FTC. Following a year of stonewalling and obfuscation, the agency was forced to turn over the documents. What we found is an extensive amount of communication, initiated by the Federal Trade Commission, to foreign jurisdictions that have no business reviewing the transaction. The Federal Trade Commission cooperates with foreign regulators to avoid going to court The documents demonstrate that the Federal Trade Commission initiated communications with foreign competition authorities, including the European Commission, after Illumina publicly announced its intent to acquire Grail. After these communications, the European Commission announced its intention to block the merger using a novel interpretation of its laws. This action by the European Commission, and the coordination between the Federal Trade Commission, is extremely concerning because the company being acquired has no sales and no business operations in the European Union. An overlay of the timeline of communications with the FTC’s actions in the U.S. – including filing and then withdrawing a complaint in federal court – strongly suggests that the FTC was working with foreign regulators to block the merger without having to do so in U.S. court. The FTC’s actions raise significant concerns that rather than simply cooperating with foreign regulators on transactions appropriately pending before both bodies, the FTC is coordinating with foreign regulators to deny merging parties their due process rights in U.S. courts. Congressional oversight is needed The process surrounding the Federal Trade Commission’s attempt to block the Illumina-Grail merger by subjugating American companies to foreign laws without any discernable nexus to their operations is in and of itself enough to suggest the agency is in dire need of congressional oversight. Unfortunately, the FTC’s malfeasance, malpractice, and mismanagement go far beyond this instance. The American business community and consumers need an FTC that is transparent, accountable, and operates within the confines of the authority granted to it by Congress. That is exactly why the Chamber is calling for immediate congressional oversight over the agency. ABOUT THE AUTHORS SEAN HEATHER Senior Vice President, International Regulatory Affairs & Antitrust, U.S. Chamber of Commerce Sean Heather is Senior Vice President for International Regulatory Affairs & Antitrust. Read more TOPICS * Antitrust * Finance RECOMMENDED * Antitrust Antitrust Alarmists Get It Wrong New research shows predictions of dire consequences to consumers when companies merge often fall flat. By Sean Heather * Antitrust What's for Dinner? More Regulation, More Litigation, and Higher Prices By Sean Heather * Antitrust What Businesses Say About Noncompetes By Stephanie Ferguson * Antitrust Supreme Court Hands Businesses a Big Win in Case Against FTC By Sean Heather * Antitrust DOJ’s Approach to Antitrust Violations: We Know Them When We See Them By Sean Heather View this online USCC Homepage FEATURED TOPICS * Infrastructure * Supply Chain * Taxes * Workforce * Climate Change * Cybersecurity View all topics * All Programs * Major Initiatives * Events * About Us * Leadership * Contact Us * Twitter * LinkedIn * Facebook * Instagram * Grow with CO— * Local Chamber Finder * Terms and Conditions * Privacy Policy * Accessibility * Press * Careers * Site Map ©2023 U.S. Chamber of Commerce search by queryly Advanced Search COOKIE NOTICE By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. 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