MFA Letter to FTC Premerger Notifications

MFA Engages with FTC and SEC on Premerger Notifications

On February 1, 2021, MFA filed comments with the FTC in response to proposed amendments to the premerger notification rules that implement the Hart-Scott-Rodino Antitrust Improvements Act.  MFA supports a de minimis exception, but expresses strong concerns that the proposed rules, as written, would place an undue burden on asset managers and force filings to the FTC in many cases where there is no threat to competition.

In addition, MFA engaged with SEC staff to better understand the ability for SEC filings to serve the FTC’s premerger aggregation requirements and to discuss concerns with the potential impact of the FTC’s proposal on the securities markets and registrants. The SEC appreciated our engagement and was particularly interested in potential consequences for shareholder engagement, and other knock-on effects to the securities markets. MFA will continue to engage with regulators at the FTC, SEC and DOJ on FTC’s proposed Hart Scott Rodino premerger notification amendments.