Posts Tagged ‘House Financial Services Committee’

Investor Protection Act Targets Internet Service Providers

Broadband Updates, Broadband's Impact November 4th, 2009

Legislation introduced last month in Congress to provide the Securities and Exchange Commission with additional authority to protect investors from violations of the securities laws contains a section on Internet service providers. According to the text of the legislation, an Internet service provider would only be held liable if it had “actual knowledge that the material contains a misrepresentation of the kind prohibited in paragraph” or “is aware of facts or circumstances from which it is apparent that the material contains a misrepresentation” and fails to act quickly to remove or disable access to the material.

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