Government regulation of business: antitrust, securities, and agency enforcement essentials

The rules, one page each

1. Vertical restraints vs horizontal agreements: RPM and territoriesContrasting cases

   Vertical restraints such as manufacturer‑imposed minimum resale prices and nonprice territorial limits are analyzed under the rule of reason; naked horizontal agreements among competitors are per se unlawful. A truly unilateral pricing policy is not an agreement.

2. Reg D 506(b)/(c), commercial paper, Form 8-K, Section 16(b)Contrasting cases

   Registration under the Securities Act is required for public distributions unless an exemption applies. Rule 506(b) bars general solicitation; Rule 506(c) permits it only if all purchasers are accredited and the issuer takes reasonable steps to verify. Form 8-K requires prompt disclosure of specified events such as the departure of a principal officer. Section 16(b) matches purchases and sales only while the holder exceeds 10%.

3. Administrative guidance vs rules, OSHA warrants, WARN, CERCLA, FTCSort it

   An agency document that imposes new binding obligations with penalties is a legislative rule that generally requires notice and comment; labels do not control. Agencies may issue investigative subpoenas before charges if requests are reasonably relevant; OSHA needs consent or an administrative inspection warrant for nonpublic areas; employers must file a written OSHA notice of contest within 15 working days; WARN coverage and CERCLA PRPs are set by statute; the FTC lacks direct jurisdiction over banks and, under Section 13(b), may seek injunctions but not equitable monetary relief.