Letters to FTC and DOJ on Hart-Scott-Rodino Reform
October 3, 2019
On October 3, MFA submitted letters on Hart-Scott-Rodino reform to the Federal Trade Commission and Department of Justice, respectively. In both letters, MFA recommends that the FTC and the Antitrust Division proceed with issuing a proposed rule limited to a 10% de minimis exemption from HSR Act filing and waiting period requirements, with aggregation of funds under common management, if viewed as necessary. The Association also explains that it is inappropriate and unnecessary for the proposed exemption to place special limits on the de minimis acquisition of voting securities of competing issuers by a fund or group of affiliated funds in order to address theoretical common ownership concerns.