Answer questions carefully, thank you! 6 Review of Rule Making (a) Again there are two issues that m
Answer questions carefully, thank you! 6 Review of Rule Making (a) Again there are two issues that m
Answer questions carefully, thank you!
6 Review of Rule Making
(a) Again there are two issues that must be addressed by courts when they review the rulemaking (quasi-legislative) functions of agencies What are these two issues? Explain each (b) A national bank sought permission from the comptroller of the currency to sell annuities This permission was granted as “incidental to the business of banking†The Variable Annuity Life Insurance Company filed suit claiming the comptroller should not have granted this permission What standard of review of this administrative decision should courts apply?
7 Review of Adjudications:
Procedural Aspects Plaintiffs purchased state lottery tickets and were winners along with 76 others The state had advertised that $1,750,000 would be the prize, but it distributed only $744,471 Plaintiff sued the lottery director, alleging fraud in the conduct of the lottery The state lottery law provides for administrative hearings upon complaints charging violations of the lottery law or of regulations thereunder It also allows any party adversely affected by a final order of the administrative agency to seek judicial review Must the plaintiffs exhaust their administrative remedies? Why or why not?
8 Review of Factual Determinations
What standard of review do courts use to decide whether to uphold the factual determinations made by an administrative agency? Criticism of Administrative Agencies
9 The Costs to Business
Describe four types of costs that businesses must absorb due to the regulatory process
10 The Costs to Society
Why has there been so little use of cost-benefit analysis when judging the merits of an agency’s proposals and actions?
17 Prevention
(a) The FTC has responsibility for preventing unfair methods of competition and unfair and deceptive business practices Describe three examples of business activities that could be declared unlawful by the FTC pursuant to these powers (b) Does the FTC have to prove that these examples involve violations of the Sherman or Clayton Acts to be successful in establishing an unfair method of competition or an unfair or deceptive business practice? Explain
International Antitrust Enforcement
18 In some cases, US antitrust authorities have approved mergers that were rejected by European antitrust authorities How might such inconsistencies create problems for multinational corporations and what are some possible solutions?
