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Federal Trade Commission v. Ken Roberts Company

Order granting FTC's petition to enforce its civil investigative demands requiring production of documents and response to interrogatories affirmed; neither the Commodity Exchange Act nor the Investment Advisers Act deprive FTC of its authority to investigate possibly deceptive advertising and marketing practices relating to commodities or securities.

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Argued October 4, 2001

The appellants Ken Roberts Company (“KRC”), Ken Roberts Institute, Inc. (“KRI”), United States Chart Company (“Chart”), and Ted Warren Corporation (“Warren”) (collectively “Ken Roberts”) sell instructional materials that purport to teach would-be investors how to make money investing in the commodities and securities markets. In an effort to determine whether Ken Roberts had engaged in deceptive advertising or selling of goods or services in violation of sections 5 and 12 of the Federal Trade Commission Act, 15 U.S.C. ss 45, 52, the Federal Trade Commission (“FTC”) issued civil investigative demands (“CIDs”) requiring Ken Roberts to produce documents and to respond to interrogatories relating to the companies’ business practices. The appellants answered some of the interrogatories, but declined to respond to most of what had been requested. Ken Roberts then filed a Petition to Quash with the FTC. The appellants claimed that, because the regulation of their advertising practices was subject to the exclusive jurisdiction of the Commodities Futures Trading Commission (“CFTC”) or the Securities and Exchange Commission (“SEC”), the FTC lacked authority to investigate.

The FTC denied the petition and then filed its own petition in District Court seeking an order to enforce the CIDs. On May 26, 2000, the District Court granted the FTC’s petition and ordered Ken Roberts to comply with the CIDs. The appellants now seek review of that judgment.

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