assembly Bill A9193B

2021-2022 Legislative Session

Relates to fraud in connection with an abnormal disruption of the market

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Current Bill Status Via S4954 - Passed Senate & Assembly


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 01, 2022 returned to senate
passed assembly
ordered to third reading cal.560
substituted for a9193b
Jun 01, 2022 substituted by s4954c
Apr 28, 2022 advanced to third reading cal.560
Apr 25, 2022 reported
Mar 29, 2022 reported referred to codes
Mar 24, 2022 print number 9193b
Mar 24, 2022 amend (t) and recommit to consumer affairs and protection
Feb 28, 2022 print number 9193a
Feb 28, 2022 amend and recommit to consumer affairs and protection
Feb 09, 2022 referred to consumer affairs and protection

Votes

view votes

Mar 2, 2022 - Consumer Protection committee Vote

S4954B
5
0
committee
5
Aye
0
Nay
2
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: Mar 2, 2022

aye wr (2)

A9193 - Details

See Senate Version of this Bill:
S4954
Law Section:
General Business Law
Laws Affected:
Amd §350-d, Gen Bus L

A9193 - Summary

Increases penalties for fraud which occurs in connection with an abnormal disruption of the market.

A9193 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9193
 
                           I N  A S S E M B L Y
 
                             February 9, 2022
                                ___________
 
 Introduced  by M. of A. ROZIC -- read once and referred to the Committee
   on Consumer Affairs and Protection
 
 AN ACT to amend the general business law and the financial services law,
   in relation to fraud in connection with an abnormal disruption of  the
   market
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivisions (b) and (c) of  section  349  of  the  general
 business law, as added by chapter 43 of the laws of 1970, are amended to
 read as follows:
   (b)  Whenever  the attorney general shall believe from evidence satis-
 factory to him OR HER that any person, firm, corporation or  association
 or agent or employee thereof has engaged in or is about to engage in any
 of  the  acts  or practices stated to be unlawful he OR SHE may bring an
 action in the name and on behalf of the people of the state of New  York
 to  enjoin  such unlawful acts or practices and to obtain restitution of
 any moneys or property obtained  directly  or  indirectly  by  any  such
 unlawful  acts  or  practices.  In such action preliminary relief may be
 granted under article sixty-three of the civil practice law  and  rules.
 PROVIDED  FURTHER THAT, WHENEVER THE ATTORNEY GENERAL SHALL BELIEVE FROM
 EVIDENCE SATISFACTORY TO HIM OR HER THAT A FIRM, CORPORATION OR  ASSOCI-
 ATION  OR  AGENT  OR  EMPLOYEE THEREOF HAS ENGAGED IN ANY OF THE ACTS OR
 PRACTICES STATED TO BE UNLAWFUL IN CONNECTION WITH AND WITH  THE  INTENT
 TO  UNLAWFULLY GAIN FROM AN ABNORMAL DISRUPTION OF THE MARKET AS DEFINED
 IN SECTION THREE HUNDRED NINETY-SIX-R OF THIS CHAPTER,  HE  OR  SHE  MAY
 BRING  AN  ACTION  ON  BEHALF  OF THE PEOPLE OF THE STATE OF NEW YORK TO
 RECOVER THREE TIMES THE ACTUAL DAMAGES PROVED  OR  TWENTY-FIVE  THOUSAND
 DOLLARS, WHICHEVER IS GREATER.
   (c) Before any violation of this section is sought to be enjoined, the
 attorney  general shall be required to give the person against whom such
 proceeding is contemplated notice by certified mail and  an  opportunity
 to show in writing within five business days after receipt of notice why
 proceedings  should  not  be  instituted  against him OR HER, unless the
 attorney general shall find, in any  case  in  which  he  OR  SHE  seeks
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

A9193A - Details

See Senate Version of this Bill:
S4954
Law Section:
General Business Law
Laws Affected:
Amd §350-d, Gen Bus L

A9193A - Summary

Increases penalties for fraud which occurs in connection with an abnormal disruption of the market.

A9193A - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9193--A
 
                           I N  A S S E M B L Y
 
                             February 9, 2022
                                ___________
 
 Introduced  by M. of A. ROZIC -- read once and referred to the Committee
   on Consumer Affairs  and  Protection  --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 AN ACT to amend the general business law and the financial services law,
   in relation to fraud in connection with an abnormal disruption of  the
   market

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 350-d of the general business law,  as  amended  by
 chapter 208 of the laws of 2007, is amended to read as follows:
   §  350-d.  Civil penalty. (A) Any person, firm, corporation or associ-
 ation or agent or employee thereof who engages in any  of  the  acts  or
 practices  stated  in  this  article to be unlawful shall be liable to a
 civil penalty of not more than five thousand dollars for each violation,
 which shall accrue to the state of New York and may be  recovered  in  a
 civil  action  brought  by  the  attorney general. In any such action it
 shall be a complete defense that the advertisement  is  subject  to  and
 complies  with  the  rules and regulations of, and the statutes adminis-
 tered by the Federal Trade Commission or any official department,  divi-
 sion, commission or agency of the state of New York.
   (B)  PROVIDED,  HOWEVER,  THAT ANY FIRM, CORPORATION OR ASSOCIATION OR
 AGENT OR EMPLOYEE THEREOF WHO ENGAGES IN ANY OF THE  ACTS  OR  PRACTICES
 STATED  IN SECTION THREE HUNDRED FORTY-NINE OF THIS ARTICLE TO BE UNLAW-
 FUL IN CONNECTION WITH AN ABNORMAL DISRUPTION OF THE MARKET  AS  DEFINED
 IN SECTION THREE HUNDRED NINETY-SIX-R OF THIS CHAPTER SHALL BE LIABLE TO
 A  CIVIL  PENALTY  OF  NOT  MORE  THAN FIFTEEN THOUSAND DOLLARS FOR EACH
 VIOLATION OR THREE TIMES THE ACTUAL  RESTITUTION  NEEDED,  WHICHEVER  IS
 GREATER,  WHICH  SHALL ACCRUE TO THE STATE OF NEW YORK AND MAY BE RECOV-
 ERED IN A CIVIL ACTION BROUGHT BY THE  ATTORNEY  GENERAL.  IN  ANY  SUCH
 ACTION  IT SHALL BE A COMPLETE DEFENSE THAT THE ADVERTISEMENT IS SUBJECT
 TO AND COMPLIES WITH THE RULES AND  REGULATIONS  OF,  AND  THE  STATUTES
 ADMINISTERED BY THE FEDERAL TRADE COMMISSION OR ANY OFFICIAL DEPARTMENT,
 DIVISION, COMMISSION OR AGENCY OF THE STATE OF NEW YORK.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

A9193B (ACTIVE) - Details

See Senate Version of this Bill:
S4954
Law Section:
General Business Law
Laws Affected:
Amd §350-d, Gen Bus L

A9193B (ACTIVE) - Summary

Increases penalties for fraud which occurs in connection with an abnormal disruption of the market.

A9193B (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9193--B
 
                           I N  A S S E M B L Y
 
                             February 9, 2022
                                ___________
 
 Introduced  by M. of A. ROZIC -- read once and referred to the Committee
   on Consumer Affairs  and  Protection  --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee -- again reported from said  committee  with  amendments,  ordered
   reprinted as amended and recommitted to said committee

 AN  ACT  to  amend  the  general  business  law, in relation to fraud in
   connection with an abnormal disruption of the market
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  350-d of the general business law, as amended by
 chapter 208 of the laws of 2007, is amended to read as follows:
   § 350-d. Civil penalty. (A) Any person, firm, corporation  or  associ-
 ation  or  agent  or  employee thereof who engages in any of the acts or
 practices stated in this article to be unlawful shall  be  liable  to  a
 civil penalty of not more than five thousand dollars for each violation,
 which  shall  accrue  to the state of New York and may be recovered in a
 civil action brought by the attorney general.  In  any  such  action  it
 shall  be  a  complete  defense that the advertisement is subject to and
 complies with the rules and regulations of, and  the  statutes  adminis-
 tered  by the Federal Trade Commission or any official department, divi-
 sion, commission or agency of the state of New York.
   (B) NOTWITHSTANDING SUBDIVISION (A) OF THIS SECTION, ANY FIRM,  CORPO-
 RATION OR ASSOCIATION OR AGENT OR EMPLOYEE THEREOF WHO ENGAGES IN ANY OF
 THE ACTS OR PRACTICES STATED IN SECTION THREE HUNDRED FORTY-NINE OF THIS
 ARTICLE  TO  BE  UNLAWFUL  IN  CONNECTION  WITH  OR  DURING  AN ABNORMAL
 DISRUPTION OF THE MARKET SHALL BE LIABLE TO A CIVIL PENALTY OF NOT  MORE
 THAN  FIFTEEN  THOUSAND  DOLLARS  FOR  EACH VIOLATION OR THREE TIMES THE
 ACTUAL RESTITUTION NEEDED, WHICHEVER IS GREATER, WHICH SHALL  ACCRUE  TO
 THE  STATE OF NEW YORK AND MAY BE RECOVERED IN A CIVIL ACTION BROUGHT BY
 THE ATTORNEY GENERAL. IN ANY SUCH ACTION IT SHALL BE A COMPLETE  DEFENSE
 THAT  THE  ADVERTISEMENT  IS  SUBJECT TO AND COMPLIES WITH THE RULES AND
 REGULATIONS OF, AND THE  STATUTES  ADMINISTERED  BY  THE  FEDERAL  TRADE
 COMMISSION OR ANY OFFICIAL DEPARTMENT, DIVISION, COMMISSION OR AGENCY OF
 THE  STATE OF NEW YORK.  FOR THE PURPOSES OF THIS SUBDIVISION, "ABNORMAL
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.