[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 95 Introduced in Senate (IS)]







106th CONGRESS
  1st Session
                                 S. 95

     To amend the Communications Act of 1934 to ensure that public 
availability of information concerning stocks traded on an established 
  stock exchange continues to be freely and readily available to the 
            public through all media of mass communication.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 19, 1999

  Mr. McCain introduced the following bill; which was read twice and 
   referred to the Committee on Commerce, Science, and Transportation

_______________________________________________________________________

                                 A BILL


 
     To amend the Communications Act of 1934 to ensure that public 
availability of information concerning stocks traded on an established 
  stock exchange continues to be freely and readily available to the 
            public through all media of mass communication.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Trading Information Act''.

SEC. 2. FINDINGS.

    The Congress finds that--
            (1) the provision of up-to-date information concerning the 
        price of shares of stock traded on recognized exchanges to the 
        investing public via media of mass communication is important 
        to the economy of the United States; and
            (2) the use of the vertical blanking interval to present, 
        on an on-going basis, such information through an overlay of 
        broadcast television images, or through other media of mass 
        communication, is an effective, efficient, and important means 
        of communicating such information to the public.

SEC. 3. AMENDMENT OF COMMUNICATIONS ACT OF 1934.

    Title VII of the Communications Act of 1934 (47 U.S.C. 301 et seq.) 
is amended by adding at the end thereof the following:

``SEC. 714. TELECOMMUNICATION OF STOCK TICKER INFORMATION.

    ``Nothing in this Act, or any other provision of law, shall limit 
or inhibit the dissemination by any medium of mass communication of 
information compiled from a ticker or otherwise for transactions on a 
national securities exchange, to the extent that such information is 
excluded from copyright protection by section 103(b) of title 17, 
United States Code, including information with respect to the volume of 
trading, the stock symbol for the security employed by the exchange, 
the most currently available ask and bid prices for the security, and 
information with respect to the relationship between those prices and 
the ask and bid prices at which the security closed on the preceding 
trading day, and such other information as the Commission by regulation 
may establish.''.
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