Investing.com -- The Federal Trade Commission (FTC) and the Department of Justice Antitrust Division (DOJ) issued a joint directive today ordering the leaders of federal agencies to compile a list of anticompetitive regulations that might hamper competition, entrepreneurship, and innovation.

The directive is the result of a letter penned by FTC Chairman Andrew N. Ferguson and Assistant Attorney General Abigail Slater of the DOJ’s Antitrust Division. The letter is in line with President Trump’s Executive Order on Reducing Anticompetitive Regulatory Barriers.

Under the Executive Order, all agency heads are required to identify any anticompetitive regulations within their organization’s rulemaking authority and report them to the FTC and DOJ. For each regulation identified, the agency must also provide a recommendation for deletion, a suggestion for specific alterations, or a justification for the potential anticompetitive effects.

This directive follows a recent Request for Information initiated by the FTC, inviting public input on how federal regulations may negatively impact competition in the American economy.

Once the public feedback and the lists of anticompetitive regulations from agency heads have been received, the FTC and DOJ will present a consolidated list of regulations to the Director of the Office of Management and Budget. This list will outline which regulations should be rescinded or altered, along with the recommended changes.

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