FTC Issues Compliance Guidelines For Oil Market Rule

Law360, New York (November 16, 2009, 5:18 PM EST) -- The Federal Trade Commission has issued guidelines to help businesses comply with its new rule banning deceptive or misleading conduct in connection with wholesale petroleum transactions, which took effect Nov. 4.

The guidelines summarize the possible penalties for violating the rule, which top out at $1 million per violation per day. They also make clear that the rule is an additional measure to Section 5 of the Federal Trade Commission Act, which prohibits deceptive or unfair conduct, and does not replace any part of it....
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