The Horseracing Integrity and Safety Act, which recognized the Authority, includes a requirement that its rules (and any future modifications to those rules) must be submitted for approval to the FTC. The Act requires that the FTC approve submitted rules if it finds that they are “consistent with” the Act and the FTC’s procedural rules governing the submission process.
The FTC’s procedural rule provides that the FTC will publish the Authority’s proposed rules in the Federal Register for public comment if the Authority’s submissions meet certain criteria. Under the Act, the FTC has 60 days from the date of publication to approve or disapprove the proposed rule.
The Commission vote to approve the rule was 3-0-1, with Commissioner Christine S. Wilson abstaining. The rule will take effect on July 1, 2022.
The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and report scams, fraud, and bad business practices online at ReportFraud.ftc.gov. Follow the FTC on social media, read our blogs and subscribe to press releases for the latest FTC news and resources.