FTC Adopts Flexible Principles for Unfair Competition Cases

By Todd Shields, Bloomberg News

The U.S. Federal Trade Commission adopted principles for challenging unfair competition that allow the agency to maintain a flexible approach after critics called its review standards vague and a hindrance to legitimate business practices.

The agency approved a statement in a bipartisan vote explaining how it will exercise its authority to confront unfair or deceptive practices, Chairwoman Edith Ramirez said in a speech in Washington on Thursday.

“Our policy statement prescribes no detailed code of regulations for the business community,” Ramirez said. “The policy statement marks no change in course; it merely makes explicit what ...