The additional functions of the Foreign Trade Commission include the following:
Enforcement: The enforcement function provides the authority to the commission to bring civil jurisdictions in a federal court. This helps to secure an individual’s monetary compensation and penalties. The enforcement function also enables the FTC to penalize violators. However, fines and punishments are decided and imposed by courts.
Investigatory: The investigatory function enables the authority to grievance and remedy complaints from consumers and businesses. The FTC conducts investigations on the defendant’s business about the allegation’s volume and takes further actions against the violators if the allegation is evidenced.
Internet base: Initially, the market base for the FTC regulations does not have major policies for internet business; however, with globalization and internet commerce, the FTC regulations expanded over the internet business as well.
Monitoring: An analytical function of the FTC includes monitoring over businesses whether they are violating the law and creating unfair business practices. The Foreign Trade Commission also prohibits false advertising of products.
Fact discovery: The function of fact discovery enables the FTC to accumulate facts and information related to the high-tech application of current business scenarios.
Application of Federal Trade Commission Actions
A few examples can help in better understanding of applications of the FTC as follows:
Example 1: In 1984, the Foreign Trade Commission strictly regulated and prohibited deceptive pricing in the funeral industry. The application of the FTC Funeral Rule was implemented, limiting funeral homes to issue a maximum price list for all the commodities included in a funeral. In addition, the court ordered that everyone must receive a copy of the general price list if they desire.
Example 2: In 1990, telemarketing scams were regulated, and strict actions were taken by the Foreign Trade Commission offering malicious business opportunities. In the year 1995, the commission prohibited nearly 100 organizations indulged in fake business opportunity scams.
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