Online Investor Protection Act of 1999

Summary

Online Investor Protection Act of 1999 - Amends the Securities Exchange Act of 1934 to: (1) mandate that each online broker or dealer make available on an interactive computer service on a quarterly basis specified online trading disclosures required by the Securities and Exchange Commission (SEC), including system outages and loss limitation information; and (2) maintain a readily accessible electronic process to receive inquiries regarding disciplinary actions and proceedings regarding its members. Amends the Investment Advisers Act of 1940 to: (1) authorize the SEC to require an investment adviser to file requisite fees and documents with an SEC designee; and (2) require the SEC to require a designee to establish and maintain a readily accessible electronic process to receive inquiries regarding disciplinary actions and proceedings regarding its members. Sets a deadline for brokers, dealers, investment companies, and investment advisers engaged in retail transactions to make available to retail investors through a hypertext link to an SEC website access to SEC information regarding investor education and fraud prevention. Amends the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisers Act of 1940 to double the civil penalty for Internet-related violations. Directs the SEC to study and report to Congress on the market impact of online trading. Authorizes appropriations to the SEC Office of Internet Enforcement for investor protection activities.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 12 May 1999

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 12 May 1999

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• Introduced in Senate

  summary · EN · 12 May 1999

  Open at official source

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