The United States Federal Maritime Commission as well as the Department of Justice Antitrust Division on Monday consented to increase participation as well as interaction in their particular oversight as well as enforcement obligations of the sea lining delivery market.
FMC Chairman Daniel Maffei as well as Acting Assistant Attorney General Richard Powers authorized the first-ever interagency memorandum of understanding (MOU) in between both firms onMonday The MOU is available in sequence to the exec order attending to competitors provided Friday by President Biden in the middle of rising transport prices as well as delivering market loan consolidation.
The MOU develops a structure for the FMC as well as the Antitrust Division to proceed routine conversations as well as testimonial police as well as regulative issues influencing competitors in the delivery market. The MOU likewise attends to info as well as know-how exchanges in between the firms that might matter as well as valuable in satisfying their oversight as well as enforcement obligations.
“The Federal Maritime Commission has an important enforcement role as an economic regulator of a vital industry. As such, we will continually assess how the agency can improve its capacity to protect the integrity of the marketplace. This memorandum between the Commission and the Department of Justice supplements and strengthens the FMC’s ability to detect, address, and pursue violations of the law or anticompetitive behavior by those we regulate,” stated Chairman Maffei.
“Collaboration between the Antitrust Division and the FMC is important to ensuring healthy competition in the maritime industry,” statedActing Assistant Attorney General Powers “Our partnership with the FMC is one of the many ways in which the Antitrust Division is prepared to play its role in achieving the competition objectives of the President’s Competition Executive Order.”
