This bill, titled the AMERICA Act, amends the Clayton Act to address significant conflicts of interest and foster greater competition in the digital advertising industry. It targets large entities involved in the complex ecosystem of digital ad buying and selling, aiming to create a more transparent and fair market for advertisers and publishers. The legislation applies different provisions based on the digital advertising revenue of the entities involved. A core provision of the bill introduces strict prohibitions for persons with over $20 billion in annual digital advertising revenue. These entities are forbidden from owning a digital advertising exchange if they also own a sell-side or buy-side brokerage, or if they are a seller of digital advertising space. Furthermore, they cannot own both a sell-side and a buy-side brokerage, nor can they own either type of brokerage if they are also a buyer or seller of digital advertising space, thereby breaking up vertically integrated monopolies. For persons with over $5 billion in annual digital advertising revenue, the bill establishes several key requirements designed to ensure fair dealing and transparency. Brokerages are mandated to uphold a best interest duty , acting solely in the best interests of their customers, and a best execution duty , seeking the most favorable terms available for transactions. To ensure accountability, brokerages must provide detailed information to customers upon request, allowing them to verify compliance with these duties, including specifics on bids, routing practices, and compensation. Additional requirements include the establishment of robust firewalls to ensure separate and independent operations between different roles within an entity, and a fair access duty for digital advertising exchanges to provide equitable access to all buyers and sellers. Brokerages and exchanges must also synchronize their clocks for accurate record-keeping, and all records pertaining to customer orders remain the property of the customer. Furthermore, brokerages are required to publicly disclose their order routing practices quarterly, detailing execution venues, fill rates, and compensation received. The bill provides strong enforcement mechanisms, allowing the Attorney General and State Attorneys General to bring civil actions for injunctive relief and damages, with a dedicated Antitrust Consumer Damages Fund established to distribute recovered funds to harmed parties. It also grants a private right of action to brokerage customers harmed by knowing violations, enabling them to seek significant damages. The legislation outlines a clear process for required divestitures, subject to Attorney General review, to ensure that structural changes promote rather than harm competition.