15 USC 46(f): Any trade secrets or any commercial or financial information which is obtained from any person and which is privileged or confidential.

          
Sec. 46. Additional powers of Commission

    The Commission shall also have power--

(a) Investigation of persons, partnerships, or corporations

    To gather and compile information concerning, and to investigate 
from time to time the organization, business, conduct, practices, and 
management of any person, partnership, or corporation engaged in or 
whose business affects commerce, excepting banks, savings and loan 
institutions described in section 57a(f)(3) of this title, Federal 
credit unions described in section 57a(f)(4) of this title, and common 
carriers subject to the Act to regulate commerce, and its relation to 
other persons, partnerships, and corporations.

(b) Reports of persons, partnerships, and corporations

    To require, by general or special orders, persons, partnerships, and 
corporations, engaged in or whose business affects commerce, excepting 
banks, savings and loan institutions described in section 57a(f)(3) of 
this title, Federal credit unions described in section 57a(f)(4) of this 
title, and common carriers subject to the Act to regulate commerce, or 
any class of them, or any of them, respectively, to file with the 
Commission in such form as the Commission may prescribe annual or 
special, or both annual and special, reports or answers in writing to 
specific questions, furnishing to the Commission such information as it 
may require as to the organization, business, conduct, practices, 
management, and relation to other corporations, partnerships, and 
individuals of the respective persons, partnerships, and corporations 
filing such reports or answers in writing. Such reports and answers 
shall be made under oath, or otherwise, as the Commission may prescribe, 
and shall be filed with the Commission within such reasonable period as 
the Commission may prescribe, unless additional time be granted in any 
case by the Commission.

(c) Investigation of compliance with antitrust decrees

    Whenever a final decree has been entered against any defendant 
corporation in any suit brought by the United States to prevent and 
restrain any violation of the antitrust Acts, to make investigation, 
upon its own initiative, of the manner in which the decree has been or 
is being carried out, and upon the application of the Attorney General 
it shall be its duty to make such investigation. It shall transmit to 
the Attorney General a report embodying its findings and recommendations 
as a result of any such investigation, and the report shall be made 
public in the discretion of the Commission.

(d) Investigations of violations of antitrust statutes

    Upon the direction of the President or either House of Congress to 
investigate and report the facts relating to any alleged violations of 
the antitrust Acts by any corporation.

(e) Readjustment of business of corporations violating antitrust 
        statutes

    Upon the application of the Attorney General to investigate and make 
recommendations for the readjustment of the business of any corporation 
alleged to be violating the antitrust Acts in order that the corporation 
may thereafter maintain its organization, management, and conduct of 
business in accordance with law.

        

            
 
          

(f) Publication of information; reports

    To make public from time to time such portions of the information 
obtained by it hereunder as are in the public interest; and to make 
annual and special reports to the Congress and to submit therewith 
recommendations for additional legislation; and to provide for the 
publication of its reports and decisions in such form and manner as may 
be best adapted for public information and use: Provided, That the 
Commission shall not have any authority to make public any trade secret 
or any commercial or financial information which is obtained from any 
person and which is privileged or confidential, except that the 
Commission may disclose such information (1) to officers and employees 
of appropriate Federal law enforcement agencies or to any officer or 
employee of any State law enforcement agency upon the prior 
certification of an officer of any such Federal or State law enforcement 
agency that such information will be maintained in confidence and will 
be used only for official law enforcement purposes, and (2) to any 
officer or employee of any foreign law enforcement agency under the same 
circumstances that making material available to foreign law enforcement 
agencies is permitted under section 57b-2(b) of this title.

(g) Classification of corporations; regulations

    From time to time classify corporations and (except as provided in 
section 57a(a)(2) of this title) to make rules and regulations for the 
purpose of carrying out the provisions of this subchapter.

(h) Investigations of foreign trade conditions; reports

    To investigate, from time to time, trade conditions in and with 
foreign countries where associations, combinations, or practices of 
manufacturers, merchants, or traders, or other conditions, may affect 
the foreign trade of the United States, and to report to Congress 
thereon, with such recommendations as it deems advisable.

(i) Investigations of foreign antitrust law violations

    With respect to the International Antitrust Enforcement Assistance 
Act of 1994 [15 U.S.C. 6201 et seq.], to conduct investigations of 
possible violations of foreign antitrust laws (as defined in section 12 
of such Act [15 U.S.C. 6211]).
(j) Investigative assistance for foreign law enforcement agencies

                           (1) In general

        Upon a written request from a foreign law enforcement agency to 
    provide assistance in accordance with this subsection, if the 
    requesting agency states that it is investigating, or engaging in 
    enforcement proceedings against, possible violations of laws 
    prohibiting fraudulent or deceptive commercial practices, or other 
    practices substantially similar to practices prohibited by any 
    provision of the laws administered by the Commission, other than 
    Federal antitrust laws (as defined in section 12(5) of the 
    International Antitrust Enforcement Assistance Act of 1994 (15 
    U.S.C. 6211(5))), to provide the assistance described in paragraph 
    (2) without requiring that the conduct identified in the request 
    constitute a violation of the laws of the United States.

                       (2) Type of assistance

        In providing assistance to a foreign law enforcement agency 
    under this subsection, the Commission may--
            (A) conduct such investigation as the Commission deems 
        necessary to collect information and evidence pertinent to the 
        request for assistance, using all investigative powers 
        authorized by this subchapter; and
            (B) when the request is from an agency acting to investigate 
        or pursue the enforcement of civil laws, or when the Attorney 
        General refers a request to the Commission from an agency acting 
        to investigate or pursue the enforcement of criminal laws, seek 
        and accept appointment by a United States district court of 
        Commission attorneys to provide assistance to foreign and 
        international tribunals and to litigants before such tribunals 
        on behalf of a foreign law enforcement agency pursuant to 
        section 1782 of title 28.

                   (3) Criteria for determination

        In deciding whether to provide such assistance, the Commission 
    shall consider all relevant factors, including--
            (A) whether the requesting agency has agreed to provide or 
        will provide reciprocal assistance to the Commission;
            (B) whether compliance with the request would prejudice the 
        public interest of the United States; and
            (C) whether the requesting agency's investigation or 
        enforcement proceeding concerns acts or practices that cause or 
        are likely to cause injury to a significant number of persons.

                    (4) International agreements

        If a foreign law enforcement agency has set forth a legal basis 
    for requiring execution of an international agreement as a condition 
    for reciprocal assistance, or as a condition for provision of 
    materials or information to the Commission, the Commission, with 
    prior approval and ongoing oversight of the Secretary of State, and 
    with final approval of the agreement by the Secretary of State, may 
    negotiate and conclude an international agreement, in the name of 
    either the United States or the Commission, for the purpose of 
    obtaining such assistance, materials, or information. The Commission 
    may undertake in such an international agreement to--
            (A) provide assistance using the powers set forth in this 
        subsection;
            (B) disclose materials and information in accordance with 
        subsection (f) and section 57b-2(b) of this title; and
            (C) engage in further cooperation, and protect materials and 
        information received from disclosure, as authorized by this 
        subchapter.

                      (5) Additional authority

        The authority provided by this subsection is in addition to, and 
    not in lieu of, any other authority vested in the Commission or any 
    other officer of the United States.

                           (6) Limitation

        The authority granted by this subsection shall not authorize the 
    Commission to take any action or exercise any power with respect to 
    a bank, a savings and loan institution described in section 
    57a(f)(3) of this title, a Federal credit union described in section 
    57a(f)(4) of this title, or a common carrier subject to the Act to 
    regulate commerce, except in accordance with the undesignated 
    proviso following the last designated subsection of this section.

                 (7) Assistance to certain countries

        The Commission may not provide investigative assistance under 
    this subsection to a foreign law enforcement agency from a foreign 
    state that the Secretary of State has determined, in accordance with 
    section 2405(j) of the Appendix to title 50, has repeatedly provided 
    support for acts of international terrorism, unless and until such 
    determination is rescinded pursuant to section 2405(j)(4) of the 
    Appendix to title 50.

(k) Referral of evidence for criminal proceedings

                           (1) In general

        Whenever the Commission obtains evidence that any person, 
    partnership, or corporation, either domestic or foreign, has engaged 
    in conduct that may constitute a violation of Federal criminal law, 
    to transmit such evidence to the Attorney General, who may institute 
    criminal proceedings under appropriate statutes. Nothing in this 
    paragraph affects any other authority of the Commission to disclose 
    information.

                    (2) International information

        The Commission shall endeavor to ensure, with respect to 
    memoranda of understanding and international agreements it may 
    conclude, that material it has obtained from foreign law enforcement 
    agencies acting to investigate or pursue the enforcement of foreign 
    criminal laws may be used for the purpose of investigation, 
    prosecution, or prevention of violations of United States criminal 
    laws.

(l) Expenditures for cooperative arrangements

    To expend appropriated funds for--
        (1) operating expenses and other costs of bilateral and 
    multilateral cooperative law en
    forcement groups conducting activities of interest to the Commission 
    and in which the Commission participates; and
        (2) expenses for consultations and meetings hosted by the 
    Commission with foreign government agency officials, members of 
    their delegations, appropriate representatives and staff to exchange 
    views concerning developments relating to the Commission's mission, 
    development and implementation of cooperation agreements, and 
    provision of technical assistance for the development of foreign 
    consumer protection or competition regimes, such expenses to include 
    necessary administrative and logistic expenses and the expenses of 
    Commission staff and foreign invitees in attendance at such 
    consultations and meetings including--
            (A) such incidental expenses as meals taken in the course of 
        such attendance;
            (B) any travel and transportation to or from such meetings; 
        and
            (C) any other related lodging or subsistence.

Provided, That the exception of ``banks, savings and loan institutions 
described in section 57a(f)(3) of this title, Federal credit unions 
described in section 57a(f)(4) of this title, and common carriers 
subject to the Act to regulate commerce'' from the Commission's powers 
defined in subsections (a), (b), and (j) of this section, shall not be 
construed to limit the Commission's authority to gather and compile 
information, to investigate, or to require reports or answers from, any 
person, partnership, or corporation to the extent that such action is 
necessary to the investigation of any person, partnership, or 
corporation, group of persons, partnerships, or corporations, or 
industry which is not engaged or is engaged only incidentally in 
banking, in business as a savings and loan institution, in business as a 
Federal credit union, or in business as a common carrier subject to the 
Act to regulate commerce.
    The Commission shall establish a plan designed to substantially 
reduce burdens imposed upon small businesses as a result of requirements 
established by the Commission under clause (b) relating to the filing of 
quarterly financial reports. Such plan shall (1) be established after 
consultation with small businesses and persons who use the information 
contained in such quarterly financial reports; (2) provide for a 
reduction of the number of small businesses required to file such 
quarterly financial reports; and (3) make revisions in the forms used 
for such quarterly financial reports for the purpose of reducing the 
complexity of such forms. The Commission, not later than December 31, 
1980, shall submit such plan to the Committee on Commerce, Science, and 
Transportation of the Senate and to the Committee on Energy and Commerce 
of the House of Representatives. Such plan shall take effect not later 
than October 31, 1981.
    No officer or employee of the Commission or any Commissioner may 
publish or disclose information to the public, or to any Federal agency, 
whereby any line-of-business data furnished by a particular 
establishment or individual can be identified. No one other than 
designated sworn officers and employees of the Commission may examine 
the line-of-business reports from individual firms, and information 
provided in the line-of-business program administered by the Commission 
shall be used only for statistical purposes. Information for carrying 
out specific law enforcement responsibilities of the Commission shall be 
obtained under practices and procedures in effect on May 28, 1980, or as 
changed by law.
    Nothing in this section (other than the provisions of clause (c) and 
clause (d)) shall apply to the business of insurance, except that the 
Commission shall have authority to conduct studies and prepare reports 
relating to the business of insurance. The Commission may exercise such 
authority only upon receiving a request which is agreed to by a majority 
of the members of the Committee on Commerce, Science, and Transportation 
of the Senate or the Committee on Energy and Commerce of the House of 
Representatives. The authority to conduct any such study shall expire at 
the end of the Congress during which the request for such study was 
made.

(Sept. 26, 1914, ch. 311, Sec. 6, 38 Stat. 721; Pub. L. 93-153, title 
IV, Sec. 408(e), Nov. 16, 1973, 87 Stat. 592; Pub. L. 93-637, title II, 
Secs. 201(b), 202(b), 203(a), Jan. 4, 1975, 88 Stat. 2193, 2198; 
Pub. L. 96-37, Sec. 1(b), July 23, 1979, 93 Stat. 95; Pub. L. 96-252, 
Secs. 3-5(a), May 28, 1980, 94 Stat. 374, 375; Pub. L. 100-86, title 
VII, Sec. 715(a), (b), Aug. 10, 1987, 101 Stat. 655; Pub. L. 103-437, 
Sec. 5(a), Nov. 2, 1994, 108 Stat. 4582; Pub. L. 103-438, 
Sec. 3(e)(2)(A), Nov. 2, 1994, 108 Stat. 4598; Pub. L. 109-455, 
Sec. 4(a), (b), (d), Dec. 22, 2006, 120 Stat. 3372, 3373, 3375.)

                          Amendment of Section

        For termination of amendment by section 13 of Pub. L. 109-455, 
    see Termination Date of 2006 Amendment note below.

                       References in Text

    The Act to regulate commerce, referred to in subsecs. (a), (b), 
(j)(6), and the proviso following subsec. (l), is defined in section 44 
of this title.
    The antitrust Acts, referred to in subsecs. (c) to (e), are defined 
in section 44 of this title.
    The International Antitrust Enforcement Assistance Act of 1994, 
referred to in subsec. (i), is Pub. L. 103-438, Nov. 2, 1994, 108 Stat. 
4597, which is classified principally to chapter 88 (Sec. 6201 et seq.) 
of this title. For complete classification of this Act to the Code, see 
Short Title note set out under section 6201 of this title and Tables.
                               Amendments

    2006--Pub. L. 109-455, Secs. 4(d), 13, temporarily substituted 
``subsections (a), (b), and (j)'' for ``clauses (a) and (b)'' in proviso 
following subsec. (l). See Termination Date of 2006 Amendment note 
below.
    Subsec. (f). Pub. L. 109-455, Secs. 4(a), 13, temporarily 
inserted ``(1)'' after ``disclose such information'', substituted 
``purposes, and'' for ``purposes.'', and added par. (2). See Termination 
Date of 2006 Amendment note below.
    Subsecs. (j) to (l). Pub. L. 109-455, Secs. 4(b), 13, 
temporarily added subsecs. (j) to (l). See Termination Date of 2006 
Amendment note below.
    1994--Pub. L. 103-437, in first and third undesignated pars. 
following proviso after subsec. (h), substituted ``Committee on Energy 
and Commerce'' for ``Committee on Interstate and Foreign Commerce''.
    Subsec. (i). Pub. L. 103-438 added subsec. (i).
    1987--Pub. L. 100-86, Sec. 715(b), in proviso following subsec. (h), 
inserted reference to Federal credit unions described in section 
57a(f)(4) of this title and reference to in business as a Federal credit 
union.
    Subsecs. (a), (b). Pub. L. 100-86, Sec. 715(a)(1), (2), inserted 
reference to Federal credit unions described in section 57a(f)(4) of 
this title.
    1980--Pub. L. 96-252, Secs. 3(b)-5(a), inserted three 
undesignated paragraphs following proviso after subsec. (h) requiring 
the Commission to establish a plan to reduce burdens imposed upon small 
businesses by the quarterly financial reporting requirements under 
subsec. (b) of this section, prohibiting Commissioners and officers and 
employees of the Commission from publishing or disclosing information 
whereby line-of-business data furnished by particular establishments or 
individuals can be identified, and, with certain exceptions, making this 
section inapplicable to the business of insurance.
    Subsec. (f). Pub. L. 96-252, Sec. 3(a), substituted ``as are'' for 
``, except trade secrets and names of customers, as it shall deem 
expedient'' and inserted proviso restricting Commission's authority to 
make public trade secrets or commercial or financial information which 
is obtained from any person and which is privileged or confidential.
    1979--Pub. L. 96-37, Sec. 1(b)(3), in proviso following subsec. (h), 
inserted references to savings and loan institutions and to persons, 
partnerships, corporations, groups of persons, partnerships, or 
corporations or industries that are not engaged or are engaged only 
incidentally in business as savings and loan institutions.
    Subsecs. (a), (b). Pub. L. 96-37, Sec. 1(b)(1), (2), inserted 
reference to savings and loan institutions described in section 
57a(f)(3) of this title.
    1975--Pub. L. 93-637, Sec. 203(a)(3), in proviso following subsec. 
(h), substituted ``any person, partnership, or corporation to the extent 
that such action is necessary to the investigation of any person, 
partnership, or corporation, group of persons, partnerships, or 
corporations,'' for ``any such corporation to the extent that such 
action is necessary to the investigation of any corporation, group of 
corporations,''.
    Subsec. (a). Pub. L. 93-637, Secs. 201(b), 203(a)(1), 
substituted ``in or whose business affects commerce'' for ``in 
commerce'', ``person, partnership, or corporation'' for ``corporation'', 
and ``persons, partnerships, and corporations'' for ``corporations and 
to individuals, associations, and partnerships''.
    Subsec. (b). Pub. L. 93-637, Secs. 201(b), 203(a)(2), 
substituted ``in or whose business affects commerce'' for ``in 
commerce'', ``special orders, persons, partnerships, and corporations, 
engaged in or whose business affects commerce, excepting'' for ``special 
orders, corporations engaged in or whose business affects commerce, 
excepting'', and ``respective persons, partnerships, and corporations'' 
for ``respective corporations''.
    Subsec. (g). Pub. L. 93-637, Sec. 202(b), inserted ``(except as 
provided in section 57a(a)(2) of this title)'' before ``to make rules 
and regulations''.
    1973--Pub. L. 93-153 inserted proviso following subsec. (h) that the 
Commission's investigatory powers to gather and compile information, 
investigate, and require reports or answers is not curtailed as regards 
banks and common carriers when the investigation in question is an 
investigation of a corporation, group of corporations, or industry not 
engaged or engaged only incidentally in banking or in business as a 
common carrier subject to the Act to regulate commerce notwithstanding 
provisions excepting banks and common carriers subject to the Act from 
the exercise of the Commission's power to investigate and require 
reports from corporations.

                         Change of Name

    Committee on Energy and Commerce of House of Representatives treated 
as referring to Committee on Commerce of House of Representatives by 
section 1(a) of Pub. L. 104-14, set out as a note preceding section 21 
of Title 2, The Congress. Committee on Commerce of House of 
Representatives changed to Committee on Energy and Commerce of House of 
Representatives, and jurisdiction over matters relating to securities 
and exchanges and insurance generally transferred to Committee on 
Financial Services of House of Representatives by House Resolution No. 
5, One Hundred Seventh Congress, Jan. 3, 2001.
                   Termination Date of 2006 Amendment

    Amendment by Pub. L. 109-455 to cease to have effect 7 years after 
Dec. 22, 2006, see section 13 of Pub. L. 109-455, set out as a note 
under section 44 of this title.
                    Effective Date of 1980 Amendment

    Amendment by Pub. L. 96-252 effective May 28, 1980, see section 23 
of Pub. L. 96-252, set out as a note under section 45 of this title.
    Applicability of 1975 Amendment to Subsection (g) of This Section

    For applicability to rules promulgated or proposed under subsec. (g) 
of this section prior to Jan. 4, 1975, of amendment made to said subsec. 
(g) by section 202(b) of Act Jan. 4, 1975, see ``Applicability'' 
provisions of section 202(c) of Act Jan. 4, 1975, set out as a note 
under section 57a of this title.

                          Transfer of Functions

    For transfer of functions of Federal Trade Commission, with certain 
exceptions, to Chairman of such Commission, see Reorg. Plan No. 8 of 
1950, Sec. 1, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1264, set out 
under section 41 of this title.
  Study and Evaluation of Effectiveness of State Policies and Programs 
       Relating to Regulation of Certain Health Insurance Policies

    Section 5(b) of Pub. L. 96-252 provided that: ``The amendment made 
in subsection (a) [adding undesignated paragraph authorizing studies and 
reports relating to the business of insurance] shall not be construed to 
prohibit the Federal Trade Commission from participating with the 
Secretary of Health and Human Services in a comprehensive study and 
evaluation of the comparative effectiveness of various State policies 
and programs relating to the regulation of health insurance policies 
available for purchase by individuals who are eligible for benefits 
under the program of health insurance benefits established in title 
XVIII of the Social Security Act [42 U.S.C. 1395 et seq.].''

 Ex. Ord. No. 10544. Inspection of Income Tax Returns by Federal Trade 
                               Commission

    Ex. Ord. No. 10544, July 12, 1954, 19 F.R. 4289, provided:
    By virtue of the authority vested in me by section 55(a) of the 
Internal Revenue Code (53 Stat. 29; 54 Stat. 1008; 55 Stat. 722) and in 
the interest of the internal management of the Government, it is hereby 
ordered that corporation income tax returns made for the year 1953 and 
subsequent years shall be open to inspection by the Federal Trade 
Commission as an aid in executing the powers conferred upon such 
Commission by the Federal Trade Commission Act of September 26, 1914, 38 
Stat. 717, [this subchapter], such inspection to be in accordance and 
upon compliance with the rules and regulations prescribed by the 
Secretary of the Treasury in the Treasury decision relating to the 
inspection of returns by the Federal Trade Commission, approved by me 
this date [T.D. 6080, 19 F.R. 4308].
    This Executive Order shall be effective upon its filing for 
publication in the Federal Register.
                                                   Dwight D. Eisenhower.