The Federal Trade Commission (FTC) and the Department of Justice (DOJ) have initiated a joint public inquiry to assess the effectiveness of the premerger notification and report form under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act). This inquiry comes after the Updated Form, which was implemented in February 2025, was vacated by a federal district court in February 2026.

As a result of the court's decision, the Agencies are currently accepting HSR filings using the previous form and instructions, while also allowing voluntary submissions of the Updated Form. The FTC has expressed concerns that the nearly 50-year-old prior form is inadequate for reviewing modern mergers and acquisitions.

The joint request aims to gather public feedback on whether the Updated Form effectively identifies potentially anticompetitive mergers and facilitates quicker determinations regarding the need for in-depth investigations. The Agencies are particularly interested in ensuring that the requirements do not impose excessive burdens on filers.

Through this inquiry, the FTC and DOJ hope to refine the premerger notification process, balancing the need for thorough assessments with the goal of reducing unnecessary burdens for non-problematic transactions. Comments are invited until May 26, 2026, and will inform future actions regarding the premerger notification and report form.