Global: FTC Appoints New Deputy with Expertise in High-Stakes Merger Reviews

The Federal Trade Commission (FTC) is signaling continuity in its regulatory approach with the appointment of a seasoned antitrust lawyer to a key leadership position.

FTC Chairman Andrew Ferguson reaffirmed the agency’s commitment to using the merger guidelines established jointly with the Department of Justice (DOJ) in 2023.

“Stability benefits enforcement agencies. Continuously revamping guidelines is resource-intensive and could weaken agency credibility,” Ferguson stated in an official release.

As part of its leadership moves, the FTC also named David Shaw as its principal deputy director. Shaw, known for his deep experience in complex antitrust cases, previously worked at the DOJ during the first Trump administration, where he played a crucial role in government investigations into Big Tech, including the Google search monopolization case.

Additionally, the FTC has appointed two other antitrust attorneys to leadership roles:

• Kelse Moen will serve as deputy director of the Bureau of Competition. Moen, formerly senior counsel to the U.S. Senate Judiciary Committee under Sen. Lindsey Graham, has nearly a decade of experience handling high-profile government investigations, litigation, and merger reviews at top international law firms.
• Douglas C. Geho will take on the role of deputy director of the Bureau of Consumer Protection. Geho’s background includes serving as counsel for the Department of Labor and holding key legal advisory roles in the House Judiciary Committee and the FTC, where he focused on consumer protection issues.

Regulatory Shifts and FinTech’s Next Move

Amid these leadership changes, broader regulatory shifts could impact the financial sector. Reports suggest that FinTech companies may explore neobank status as regulatory scrutiny on bank-FinTech partnerships intensifies.

A recent report highlighted that the temporary freeze on new rulemaking across regulatory agencies could encourage more joint ventures. Additionally, discussions on Capitol Hill are pushing for a more streamlined path for new bank charters. Rep. French Hill (R-Ark.), chair of the House Committee on Financial Services, recently noted that only 82 new bank charters have been issued in the past 15 years.

As regulatory landscapes evolve, businesses and financial institutions will need to stay agile in response to shifting enforcement priorities and leadership transitions at agencies like the FTC.