15 U.S.C. § 6102 — Telemarketing rules

(a) In general. (1) The Commission^* must issue rules prohibiting deceptive telemarketing^* acts or practices and other abusive telemarketing acts or practices. (2) The rules on deceptive practices must define them to include fraudulent charitable solicitations and may include conduct by people or entities that assist or facilitate deceptive telemarketing, including credit-card laundering. (3) Rules on other abusive practices must include: (A) a ban on a pattern of unsolicited calls that a reasonable consumer would view as coercive or abusive of privacy; (B) limits on the hours when unsolicited calls may be made; (C) a prompt, clear disclosure in sales calls that the purpose is to sell goods or services, plus other disclosures the Commission finds appropriate, including their nature and price; and (D) a prompt, clear disclosure in charitable solicitations that the purpose is to solicit contributions, donations, or gifts, plus other appropriate disclosures, including the charitable organization’s name and mailing address. The Commission must also consider recordkeeping requirements.

(b) Rulemaking authority. The Commission may issue these rules under section 553 of title 5. For a rule concerning a consumer financial product or service subject to the Consumer Financial Protection Act of 2010, including an enumerated consumer law under it, the Commission must consult the Bureau of Consumer Financial Protection about consistency with the Bureau’s administered standards, purposes, or objectives.

(c) Violations. A violation of a rule under subsection (a) (1) is treated as a violation of a rule under section 57a concerning unfair or deceptive acts or practices; and (2), if committed by a person subject to the Consumer Financial Protection Act of 2010, is treated as a violation of a rule under section 1031 of that Act concerning unfair, deceptive, or abusive acts or practices.

(d) Securities and Exchange Commission rules. (1) Promulgation. (A) Unless (B) applies, within 6 months after the FTC rules take effect, the SEC must issue, or require a national securities exchange or registered securities association to issue, substantially similar rules barring deceptive and other abusive telemarketing by the persons in paragraph (2). (B) The SEC need not issue such a rule if it determines that (i) Federal securities laws or SEC rules already give those persons substantially similar protection, or (ii) an SEC rule is not necessary or appropriate in the public interest or for investor protection, or would conflict with fair and orderly markets. If it makes either determination, the SEC must publish it and its reasons in the Federal Register. (2) Application. (A) SEC rules apply to brokers, dealers, transfer agents, municipal-securities dealers or brokers, government-securities brokers or dealers, investment advisers, investment companies, and individuals associated with them. FTC rules do not apply to those persons. (B) For this subparagraph, “broker,” “dealer,” “transfer agent,” “municipal securities dealer,” “municipal securities broker,” “government securities broker,” and “government securities dealer” have the meanings in the listed paragraphs of section 78c(a); “investment adviser” has the meaning in section 80b–2(a)(11); and “investment company” has the meaning in section 80a–3(a). This section does not define those terms.

(e) Commodity Futures Trading Commission rules. (1) FTC rules do not apply to persons described in section 9b(1) of title 7. (2) Omitted.