President Donald Trump is anticipated to issue an executive order aimed at safeguarding Americans from " exploitative ticket scalping" within the music and entertainment sector, according to information obtained by Fox News Digital.
The presidential directive will instruct the Federal Trade Commission to collaborate with the attorney general to guarantee that antitrust regulations are upheld within the music and events sector.
This directive will implement the Better Online Ticket Sales (BOTS) Act and encourage its enforcement by state-level consumer protection agencies.
The president’s directive will mandate price clarity throughout every phase of the ticket-buying journey, encompassing transactions within the secondary ticket marketplace as well. Additionally, it calls for an assessment with the potential for enforcing measures against “unjust, misleading, and monopolistic practices” occurring in the secondary ticket sector.
The president’s directive will instruct the attorney general and the Treasury secretary to guarantee that ticket resellers are fully adhering to the Internal Revenue Code as well as other applicable laws.
As per the directive, the Treasury Department, DOJ, and FTC will submit a report within 180 days outlining the steps they have taken to tackle unjust practices in the live concert and entertainment sector. They will also suggest potential new regulations or laws required to safeguard consumer interests.
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The directive follows President Trump’s promises during his campaign to address the issue of expensive tickets. During his run for office, he referred to the present situation where fans find themselves unable to afford tickets as “highly regrettable.”
This story is evolving. Be sure to return for new information.
Original article source: Trump to sign executive order to protect Americans from 'exploitive ticket scalping' in entertainment industry