Federal Trade Commission Makes Inquiries Into Interlocking Boards
The Federal Trade Commission is reported to be making inquiries into the fact that certain individuals hold seats on the boards of both Apple and Google, a possible violation of Section 8 of the Clayton Act. Section 8, which under certain circumstances prohibits an individual from serving as a director or board elected or appointed officer of two or more competing companies, has not been seen as an enforcement priority of the antitrust agencies in recent years. Because this FTC inquiry may reflect a shift in priorities brought on by the new administration, this memo reviews Section 8 and its exemptions.