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BACKGROUND
There are three principal statutes dealing with antitrust laws at the federal level: The Sherman Antitrust Act, the Federal Trade Commission Act, and the Clayton Act. All three statutes are codified in the United States Code.
Congress passed the first antitrust law, the Sherman Antitrust Act, in 1890 as a "comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade."
In 1914, Congress passed two additional antitrust laws: the Federal Trade Commission Act, which created the FTC, and the Clayton Act. With some revisions, these are the three core federal antitrust laws still in effect today.
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The Antitrust Laws proscribe unlawful mergers and business practices in general terms, leaving courts to decide which ones are illegal based on the facts of each case. Courts have applied the these laws to changing markets throughout history. Yet for over 100 years, these laws have had a basic objective: to protect the process of competition for the benefit of consumers, making sure there are strong incentives for businesses to operate efficiently, keep prices down, and keep quality up.
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More information on the background of these Antitrust Laws can be found here.
Federal Trade Commission
The Federal Trade Commission Act and the Clayton Act, give the Commission authority to enforce the antitrust laws.
The Bureau of Competition investigates potential law violations and seeks legal remedies in federal court or before the FTC's administrative law judges. The Bureau also serves as a resource for policy makers on competition issues, and works closely with foreign competition agencies to promote sound and consistent outcomes in the international arena.
U.S. antitrust laws are enforced by both the FTC's Bureau of Competition and the Antitrust Division of the Department of Justice. The agencies consult before opening any investigation. The Antitrust Division handles all criminal antitrust enforcement.
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Federal Trade Commission Chair (as of 11/15/2021): Lina M. Khan
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Department of Justice
The Antitrust Division of the DOJ prosecutes violations of U.S. antitrust laws by filing criminal suits that can lead to large fines and jail sentences. When seeking enforcement, the Antitrust Division initiates a civil action seeking a court order forbidding future violations of antitrust law and seeks steps to remedy the anticompetitive effects of past violations.
Many of the Antitrust Division's accomplishments are made possible by cooperating with foreign antitrust enforcement agencies and with state attorneys general.
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Assistant Attorney General for the Department of Justice, Antitrust Division (as of 11/19/2021): Jonathan Kanter
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