MSCI, Allies Working To Roll Back Newly Enacted FTC Premerger Rules

As Connecting the Dots  readers may recall, last year the Federal Trade Commission (FTC) and the U.S. Department of Justice (DOJ) finalized a regulation that altered premerger notification rules. (Under the federal Hart-Scott-Rodino, or HSR, Act, parties to certain mergers and acquisitions are required to submit premerger notification forms that disclose certain information about their proposed deal and business operations.) The rule, which went into effect last Monday, Feb. 10, 2025, imposes several new requirements on merging parties, including those required through enactment of the Merger Filing Fee Modernization Act (MFFMA) of 2022.

The Metals Service Center Institute (MSCI) is working with allies in the business community, including the U.S. Chamber of Commerce, to roll back the updated requirements. Specifically, MSCI supports a Congressional Review Act resolution introduced by Rep. Scott Fitzgerald (R-Wis.) that would disapprove of the rule. If the resolution is approved by both the U.S. House and Senate and signed into law by President Donald Trump, the new rule would be nullified.

In a letter to leaders on the U.S. House Judiciary Committee that is available at this link, MSCI and its allies argued the rule will stifle innovation, reduce market efficiencies, and harm consumers. The letter also explained how the rule directly violates administrative law.

Stay tuned to Connecting the Dots as the Congressional Review Act proceeds through the legislative process.