S.921 - Electronics Securities Transactions Act106th Congress (1999-2000)
|Sponsor:||Sen. Abraham, Spencer [R-MI] (Introduced 04/29/1999)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||04/29/1999 Read twice and referred to the Committee on Banking. (All Actions)|
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Summary: S.921 — 106th Congress (1999-2000)All Bill Information (Except Text)
Introduced in Senate (04/29/1999)
Electronic Securities Transactions Act - Amends the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940 to permit a registered broker, dealer, transfer agent, or investment adviser, respectively, to: (1) rely upon an electronic signature on any document submitted by a customer or counterparty; and (2) use such signature in the conduct of business with any customer or counterparty.
States such electronic signature shall not be denied legal effect, validity and enforceability solely because it is an electronic signature.
Preempts State law with regard to the use of or reliance on such signature by such registered persons.