Markets Wired

Commission Rescinds Enforcement Policy Regarding the Advertising of Books

– The Commission has approved the publication of a notice in the Federal Register rescinding the agency’s enforcement policy for advertising of books, also known as the Mirror Image Doctrine (MID). As detailed in the notice, which will be published soon and is available now on the FTC’s Web site and as a link to this press release, the agency is rescinding its stated policy that it will not ordinarily challenge advertising claims that promote the sale of books and other publications when the advertising purports only to express the opinion of the author, or to quote, i.e., “mirror,” the contents of the book or publication.

The FTC published its MID in July 1971 as a guide for how Commission staff ordinarily should approach advertising claims for books and other publications that are commercially marketed. According to the FTC, the MID is unnecessary in light of subsequent developments in the Supreme Court’s commercial speech jurisprudence, which now more clearly delimits the constitutional constraints on governmental challenges to deceptive advertising claims for such books and publications. The Commission vote approving publication of the notice in the Federal Register was 4-0. (FTC File No. P084513; the staff contact is Keith Fentonmiller, Bureau of Consumer Protection, 202-326-2775.)

Commission Approves Final Consent Order in Matter of West Penn Multi-List, Inc.

– Following a public comment period, the Commission has approved a final consent order in the matter of West Penn Multi-List, Inc. The vote approving the final order was 4-0. (FTC File No. 081-0167; the staff contact is Patrick J. Roach, Bureau of Competition, 202-326-2793; see press release dated January 9, 2009, at http://www.ftc.gov/opa/2009/01/westpenn.shtm.)

Commission Approves Final Consent Order in Matter of Good Life Funding

– Following a public comment period, the Commission has approved a final consent order in the matter of Michael Gendrolis, doing business as Good Life Funding. The vote approving the final order was 4-0. (FTC File No. 082-3034; the staff contact is Carole Reynolds, Bureau of Consumer Protection, 202-326-3230; see press release dated January 8, 2009, at http://www.ftc.gov/opa/2009/01/anm.shtm.)

Commission Approves Final Consent Order in Matter of American Nationwide Mortgage Company, Inc.

– Following a public comment period, the Commission has approved a final consent order in the matter of American Nationwide Mortgage Company, Inc. The vote approving the final order was 4-0. (FTC File No. 072-3168; the staff contact is Carole Reynolds, Bureau of Consumer Protection, 202-326-3230; see press release dated January 8, 2009, at http://www.ftc.gov/opa/2009/01/anm.shtm.)

Commission Approves Final Consent Order in Matter of Innova Financial Group

– Following a public comment period, the Commission has approved a final consent order in the matter of Shiva Venture Group, Inc., doing businesses as Innova Financial Group. The vote approving the final order was 4-0. (FTC File No. 082-3032; the staff contact is Carole Reynolds, Bureau of Consumer Protection, 202-326-3230; see press release dated January 8, 2009, at http://www.ftc.gov/opa/2009/01/anm.shtm.)

Copies of the documents mentioned in this release are available from the FTC’s Web site at http://www.ftc.gov and from the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. Call toll-free: 1-877-FTC-HELP.

(FYI 8.2009.wpd)