What does the Fair Trade Commission Act prohibit?

The Fair Trade Commission Act primarily aims to promote fair competition and protect consumers from unfair business practices. It prohibits deliberate deception or fraud to taxpayers, which includes any intentional misrepresentation or misleading information designed to deceive individuals into making decisions that could harm their financial wellbeing. This focus on transparency and honesty is essential for maintaining trust in financial markets and ensuring that consumers can make informed choices without falling victim to scams or fraudulent practices.

The options relating to charging higher fees for online services, providing inaccurate financial advice, and marketing to underage taxpayers could fall under other regulatory frameworks or consumer protection laws, but they are not the primary concerns addressed by the Fair Trade Commission Act specifically. Instead, the emphasis of the Act is firmly on preventing deceitful tactics that could exploit taxpayers.