7 U.S.C. § 9b — Rules prohibiting deceptive and other abusive telemarketing acts or practices
submitted 104 years ago by Pub. L. 103-297 to r/title-7-AGRICULTURE · 234 words · no verdicts yet
The Commission must write rules against deceptive telemarketing in the futures industry. These rules must match FTC telemarketing rules. The Commission can skip this if its existing rules already do the job, or a new rule wouldn't help.
Except as provided in paragraph (2), not later than six months after the effective date of rules promulgated by the Federal Trade Commission* under section 6102(a) of title 15, the Commission shall promulgate, or require each registered futures association to promulgate, rules substantially similar to such rules to prohibit deceptive and other abusive telemarketing acts or practices by any person registered or exempt from registration under this chapter in connection with such person’s business as a futures commission merchant, introducing broker, commodity* trading advisor, commodity pool operator*, leverage transaction merchant, floor broker, or floor trader, or a person associated with any such person.
The Commission is not required to promulgate rules under paragraph (1) if it determines that—
rules adopted by the Commission under this chapter provide protection from deceptive and abusive telemarketing by persons described under paragraph (1) substantially similar to that provided by rules promulgated by the Federal Trade Commission under section 6102(a) of title 15; or
such a rule promulgated by the Commission is not necessary or appropriate in the public interest, or for the protection of customers in the futures and options markets, or would be inconsistent with the maintenance of fair and orderly markets.
If the Commission determines that an exception described in subparagraph (A) or (B) applies, the Commission shall publish in the Federal Register its determination with the reasons for it.
Source credit: (Sept. 21, 1922, ch. 369, § 6(f), as added Pub. L. 103–297, § 3(e)(2), Aug. 16, 1994, 108 Stat. 1547.)
- 1922Enacted · Pub. L. 103-297 · 108 Stat. 1547
A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-297 on 1922-09-21.
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