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United States · Bill · S

S. 1015 (106th)

Online Investor Protection Act of 1999

referredUnited States· United States Congress· EN

Introduced

12 May 1999

Last action

12 May 1999 · Introduced

Status

Read twice and referred to the Committee on Banking.

Sponsors

Sen. Schumer, Charles E. [D-NY], Sen. Sarbanes, Paul S. [D-MD], Sen. Bryan, Richard H. [D-NV], Sen. Johnson, Tim [D-SD]

Subjects

Education

Source updated

10 February 2026

Education

Official sourceDownload fileView documentsShare

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 12 May 1999

    Introduced

    Read twice and referred to the Committee on Banking.

    Source: IntroReferral

  2. 12 May 1999

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • 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

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 12 May 1999

    Open at official source

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Sponsors

Related records

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Sources

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