Congress may require ISPs to block fraud sites H.R.3817
bking at inline.com
Thu Nov 5 16:40:09 CST 2009
Did I miss a thread on this? Has anyone looked at this yet?
Section 508 of H.R.3817:
SEC. 508. PENALTY FOR MISREPRESENTATION OF SIPC MEMBERSHIP OR PROTECTION.
Section 14 of the Securities Investor Protection Act of 1970 (15 U.S.C.
78jjj) is amended by adding at the end the following new subsection:
`(d) Misrepresentation of SIPC Membership or Protection-
`(1) IN GENERAL- Any person who falsely represents by any means
(including, without limitation, through the Internet or any other medium
of mass communication), with actual knowledge of the falsity of the
representation and with an intent to deceive or cause injury to another,
that such person, or another person, is a member of SIPC or that any
person or account is protected or is eligible for protection under this
Act or by SIPC, shall be liable for any damages caused thereby and shall
be fined not more than $250,000 or imprisoned for not more than five years.
`(2) INTERNET SERVICE PROVIDERS- Any Internet service provider that, on
or through a system or network controlled or operated by the Internet
service provider, transmits, routes, provides connections for, or stores
any material containing any misrepresentation of the kind prohibited in
paragraph (1) shall be liable for any damages caused thereby, including
damages suffered by SIPC, if the Internet service provider--
`(A) has actual knowledge that the material contains a misrepresentation
of the kind prohibited in paragraph (1), or
`(B) in the absence of actual knowledge, is aware of facts or
circumstances from which it is apparent that the material contains a
misrepresentation of the kind prohibited in paragraph (1), and
upon obtaining such knowledge or awareness, fails to act expeditiously
to remove, or disable access to, the material.
`(3) INJUNCTIONS- Any court having jurisdiction of a civil action
arising under this Act may grant temporary injunctions and final
injunctions on such terms as the court deems reasonable to prevent or
restrain any violation of paragraph (1) or (2). Any such injunction may
be served anywhere in the United States on the person enjoined, shall be
operative throughout the United States, and shall be enforceable, by
proceedings in contempt or otherwise, by any United States court having
jurisdiction over that person. The clerk of the court granting the
injunction shall, when requested by any other court in which enforcement
of the injunction is sought, transmit promptly to the other court a
certified copy of all papers in the case on file in such clerk's office.'.
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