Bill could kill ISP safe harbor in cases of financial fraud

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In the wake of the collapse of many a 401k and a Ponzi scheme or three, it’s no surprise that a bill called the Investor Protection Act of 2009 has attracted significant support in Congress. In 60 sections over 113 pages, the Act clarifies existing legislation and provides new oversight powers to the Securities Exchange Commission. But, buried on page 92, there’s language that would remove the safe harbor protections that keep ISPs from being liable for information transmitted over their networks, at least when that information involves a specific form of financial fraud.