What action can a dealer take if they suspect a trade practice is deceptive?

When a dealer suspects that a trade practice is deceptive, reporting it to regulatory authorities is a crucial and appropriate action. Regulatory authorities are equipped to investigate these practices to determine if any laws or regulations are being violated. By bringing the issue to their attention, the dealer helps to protect consumers and promote fair business practices within the industry. This action not only addresses the immediate concern but also contributes to the overall integrity of the market.

Taking no action, changing only their advertising approach, or discussing the matter informally with competitors may not effectively address the deceptive practice. Ignoring it leaves the issue unchallenged and could allow the unfair practice to continue. Adjusting their own advertising might only alter their approach without correcting the wrongdoing at hand, while informal discussions with competitors do not provide a formal resolution or necessary intervention. Therefore, reporting to regulatory authorities stands out as the most responsible and impactful response to suspected deceptive trade practices.