Twenty First Century Anti Trust Act Modifications | 2023 NYS Legislative Agenda
The City Bar proposed modifications to the Twenty-First Century Anti-Trust Act. The Act would revise current law by introducing a prohibition against anticompetitive single-firm conduct and a premerger notification regime. The City Bar supports the proposed prohibition against anticompetitive single-firm conduct to the extent that the provision tracks Section 2 of the Sherman Act and fills a gap in the current law. We recommend that the New York attorney general be authorized to study and issue guidelines on the interpretation and enforcement of the single-firm conduct provision and consider the Constitutional limits to the state’s exercise of jurisdiction. However, we recommend that the proposed provisions regarding “abuse of a dominant position” be deleted, as they diverge substantially from current U.S. antitrust jurisprudence, and also recommend deleting the provisions relating to creation of a premerger notification regime because it would likely capture many transactions with little or no connection to New York and unnecessarily burden the New York attorney general with notifications of transactions unlikely to raise any concerns.
– New for 2023 –