3/21/2017 Guide to Introduction US Food Laws and Regulations Federal Trade Commission is an independent agency that reports to Congress on its actions SECOND EDITION Chapter 8 PatriciaA.Curtis Commission is headed by 5 commissioners Federal Trade ·Commissioners: Commission Commission -are nominated by the President Regulations and the are confirmed by the Senate Food Industry -serve a 7-year term President chooses one to act as chairperson No more than three can be of the same politica WILEY Blackwall party Mission Mission ·Founded in1914 Markets work best when consumers can Dual mission to protect consumers and promote make informed choices based on competition accurate information -ensures that the nation's markets are vigorous,efficient and free of restrictions FTC enforces federal consumer that harm consumers protection laws that ·Competition prevent fraud -yields products with lowest price -prevent deception 、 spurs innovation prevent unfair business practices strengthens the economy 3/21/2017 1 Chapter 8 Federal Trade Commission Regulations and the Food Industry Introduction • Federal Trade Commission is an independent agency that reports to Congress on its actions • Commission is headed by 5 commissioners • Commissioners : - are nominated by the President - are confirmed by the Senate - serve a 7-year term • President chooses one to act as chairperson • No more than three can be of the same political party Mission • Founded in 1914 • Dual mission to protect consumers and promote competition - ensures that the nation’s markets are vigorous, efficient and free of restrictions that harm consumers • Competition - yields products with lowest price - spurs innovation - strengthens the economy Mission • Markets work best when consumers can make informed choices based on accurate information • FTC enforces federal consumer protection laws that : - prevent fraud - prevent deception - prevent unfair business practices