Seal of the Federal Trade Commission
Flag of the Federal Trade Commission
|Formed||September 26, 1914|
|Headquarters||Federal Trade Commission Building|
|Employees||1,131 (December 2011)|
|Annual budget||$311 million (FY 2019)|
The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) U.S. antitrust law and the promotion of consumer protection. The FTC shares jurisdiction over federal civil antitrust enforcement in the United States with the Antitrust Division of the U.S. Department of Justice. It is headquartered in the Federal Trade Commission Building in Washington, DC.
The FTC was established in 1914 with the passage of the Federal Trade Commission Act. Signed into law by President Woodrow Wilson, who was a strong proponent of it, the Federal Trade Commission Act was a major response to 19th-century monopolistic trusts. Trusts and trust-busting were significant political concerns during the Progressive Era. Since its inception, the FTC has enforced the provisions of the Clayton Act, a key antitrust statute, as well as the provisions of the FTC Act, 15 U.S.C. § 41 et seq. Over time, the FTC has been delegated with the enforcement of additional business regulation statutes and has promulgated a number of regulations (codified in Title 16 of the Code of Federal Regulations). The broad statutory authority granted to the FTC provides it with more surveillance and monitoring abilities than it actually uses.:571