Trade Watchdog Creates Bureau to Monitor Conglomerates

Write : 2017-09-12 18:34:27 Update : 2017-09-12 19:01:55

Trade Watchdog Creates Bureau to Monitor Conglomerates

The Fair Trade Commission(FTC) has finalized a restructuring plan, including creating an investigative bureau to keep conglomerates in check.  

According to the trade watchdog, a revised rule on its structure passed at a Cabinet meeting on Tuesday, paving the way for a new business group bureau of the FTC.

It will have four departments, including one that will monitor internal transactions or unfair support provided by conglomerates for their affiliates.

A total of 40 additional officials will be hired by the commission and assigned to carry out bureau-related works, while an additional 20 new employees will be added to the watchdog’s payroll.  

The business group bureau will succeed the FTC’s investigative bureau which monitored conglomerates until it closed in 2005 due to strong protest from major firms.

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