Summary: H.R.1858 — 106th Congress (1999-2000)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Reported to House amended, Part I (09/30/1999)


Title I: Commerce in Duplicated Databases Prohibited

Title II: Securities Market Information

Consumer and Investor Access to Information Act of 1999 - Title I: Commerce in Duplicated Databases Prohibited - Proscribes the sale or distribution to the public of any database that: (1) is a duplicate of another database collected and organized by another person or entity; and (2) is sold or distributed in commerce in competition with that other database. Excludes from such proscription: (1) certain news and sports information gathering, dissemination and comment; (2) law enforcement and intelligence activities; (3) scientific, educational, or research activities not part of a consistent pattern engaged in for competition with the database organizer; (4) government databases; (5) databases related to Internet communications; (6) computer programs; (7) subscriber list information; (7) certain databases of primary legal materials; and (8) specified securities market data.

Preempts State law that is not consistent with this Act. Cites Securities laws unaffected by this Act.

Sets forth liability limitations for: (1) service providers; and (2) any person or entity with respect to any misuse of the protection afforded under this title by the person or entity benefiting from duplicate distribution protection.

Grants the Federal Trade Commission enforcement and rulemaking authority, and directs it to report to Congress on the effect of this title upon electronic commerce and upon the domestic database industry.

Title II: Securities Market Information - Amends the Securities Exchange Act of 1934 to set forth civil remedies for the misappropriation of real-time market information, including injunctions, monetary relief, and disgorgement.