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Email The identification, investigation and removal of persons who serve as directors or officers of two competing companies (i.e., “horizontal interlocks”) is a significant component of the Biden Administration’s antitrust enforcement agenda. The Department of Justice (“DOJ”) has moved more aggressively to break interlocks, but the Federal Trade Commission’s (“FTC’s”) expansive view of its authority under Section 5 of the Federal Trade Commission Act supports its efforts to prohibit a much broader class of interlocks. While the courts may be skeptical of the FTC’s expansive view of its authority, the FTC has not yet been forced to go to court to validate its reading of the law. https://www.cadwalader.com/resources/clients-friends-memos/the-biden-administrations-extensive-review-of-interlocking-directorates-across-the-entire-economy-may-put-your-board-representation-at-risk