Markets Wired

As part of the Federal Trade Commission’s systematic review of all current FTC rules and guides, the agency is announcing a modified 10-year regulatory review schedule.

To ensure that its rules and industry guides stay relevant and are not overly burdensome, the FTC reviews them on a 10-year schedule. The review schedule is published each year, with adjustments in response to public input, changes in the marketplace, and resource demands. For 2014, the Commission intends to begin reviews of, and solicit comments on, the following rules:

• Rules and Regulations under the Hobby Protection Act, 16 CFR Part 304;
• Telemarketing Sales Rule, 16 CFR Part 310; and
• Standards for Safeguarding Customer Information, 16 CFR Part 314, which implements Sections 501 and 505(b)(2) of the Gramm-Leach-Bliley Act.

The Commission is currently reviewing 25 of the 65 rules and guides within its jurisdiction. The agency is postponing review of the Preservation of Consumers’ Claims and Defenses [Holder in Due Course Rule], 16 CFR Part 433, previously scheduled for 2014, until 2015.

The Commission vote to publish the proposed Federal Register notice regarding its regulatory review program was 4-0.

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.