The use of influencers has become a major part of many marketing strategies in recent years. While there has always been a risk in terms of regulatory compliance regarding influencer marketing, businesses could face even more challenges with the Federal Trade Commission's (FTC) proposed Endorsement Guide changes.
With the Alvaro Bedoya appointment swinging the majority back in her favor at the FTC, Chair Lina Khan is looking to push off early setbacks and now utilize every tool at the commission's disposal to protect consumers from anticompetitive behavior and deceptive practices according to an article from The Washington Post.
The FTC is continuing to increase its enforcement efforts to protect consumers by now looking to update it guidance when it comes to digital disclosers. Feeling that some companies have used the previous guides as a way to deceive customers, the FTC is looking for modernized guidelines to prevent any such deception in the future.
Looking to update its existing set of endorsement guidelines for businesses, the FTC is proposing to increase its enforcement of fake reviews and other forms of misleading advertising according to this recent article from Forbes.
In a combination of moves, the U.S. Senate has not only broken the partisan deadlock at the FTC by approving the nomination of Alvaro M. Bodoya, but has also seen its commerce committee push forward a bill that would restore the FTC's consumer refund power.
The U.S. Senate has moved ever closer to approving nominees to both the FTC and FCC which would break the current partisan deadlocks in both agencies. This is major news as these nominations could shift the regulatory direction of both commissions moving forward. Learn more in this article from The Washington Post.