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S. 1015 106th Congress Senate

Online Investor Protection Act of 1999

Official title: A bill to require disclosure with respect to securities transactions conducted "online", to require the Securities and Exchange Commission to study the effects… Show full official titleShow less

Official title: A bill to require disclosure with respect to securities transactions conducted "online", to require the Securities and Exchange Commission to study the effects of online trading on securities markets, to prevent online securities fraud, and for other purposes.

Introduced: May 12, 1999 Introduced by: Charles E. Schumer Democratic · New York See on congress.gov
Finance and Financial Sector Administrative feesAdministrative procedureBrokersBusiness records
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CommerceComputer networksComputers and governmentCongressCongressional reporting requirementsConsumer educationEconomics and Public FinanceElectronic commerceFines (Penalties)Government Operations and PoliticsGovernment paperworkGovernment publicityIndependent regulatory commissionsInformation disclosure (Securities law)InternetInvestment advisersInvestmentsInvestorsLawMutual fundsSaving and investmentScience, Technology, CommunicationsSecurities and Exchange CommissionSecurities fraudSecurities industrySecurities regulationStock exchangesStocksTelephoneTrade associationsWeb sites
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 12, 1999
Read twice and referred to the Committee on Banking.
May 12, 1999
Introduced in Senate
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 Latest action May 12, 1999

Read twice and referred to the Committee on Banking.

 Plain-English summary Congressional Research Service
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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 1015: Online Investor Protection Act of 1999. 106th Congress. Open America. https://openamerica.io/bill/106-S-1015/
MLA
"S. 1015: Online Investor Protection Act of 1999." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-S-1015/.
Bluebook (legal)
S. 1015, 106th Cong. (2026), https://openamerica.io/bill/106-S-1015/.
Markdown link
[S. 1015: Online Investor Protection Act of 1999](https://openamerica.io/bill/106-S-1015/)
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