Senator Amy Klobuchar (D-MN) has introduced the Antitrust Accountability and Transparency Act, which would amend the Tunny Act to bolster transparency surrounding antitrust settlements. In a new insight, Director of Competition Policy Fred Ashton considers the legislation’s proposed changes.

Key points:

• The bill would amend the Tunney Act, which requires federal courts to review and approve antitrust settlements, amid growing concerns about the current process.
• Specifically, the legislation aims to bolster transparency surrounding antitrust settlements and subject the Federal Trade Commission to the same review requirements as those of the Department of Justice.
• While intended to increase transparency, the proposal would likely introduce added regulatory risks – delay deal closings, increase litigation costs, discourage open dialogue among parties, and strip executive branch prosecutorial discretion.

Read the analysis.