Bill 119 s 232 aims to address anticompetitive behavior in the marketplace by targeting the use of pricing algorithms that can lead to collusion among competitors. The bill prohibits the use of pricing algorithms that utilize...
nonpublic competitor data, which can potentially facilitate collusion and harm consumers.
In order to enforce this prohibition, the bill creates a new antitrust law enforcement tool that will increase transparency in pricing practices. This tool will allow regulators to monitor and investigate companies that may be engaging in anticompetitive behavior through the use of pricing algorithms.
Violations of this prohibition will be enforced through existing antitrust laws, specifically the Sherman Act and the Federal Trade Commission Act. These laws provide the legal framework for addressing anticompetitive conduct and protecting consumers from unfair business practices.
Overall, Bill 119 s 232 seeks to promote fair competition in the marketplace by preventing the use of pricing algorithms that can harm consumers and stifle innovation. By increasing transparency and enforcing violations through existing antitrust laws, the bill aims to protect consumers and promote a level playing field for businesses.