SIA Submits Comments to the FTC on Consumer Consent Provisions in the Electronic Signatures in Global National Commerce Act

The Securities Industry Association (SIA)* provides comments to the Federal Trade Commission on the consumer consent provisions of theElectronic Signatures in Global National Commerce Act(ESIGN). SIA is fully supportive of the provisions of the legislation that give legal standing to electronic signatures, and records, but shares concerns. The first concernis that ESIGN’s consumer consent provisions could be narrowly or unreasonably interpreted so as to impose unnecessaryand undue burdens on the ability of business to offer electronic services to their customers. The second concern is that the provisions of the legislation could be interpreted in such a way as to supplant or duplicate the work already being done by the Securities and Exchange Commission (SEC).

SIA Submits Comments to the FTC on Consumer Consent Provisions in the Electronic Signatures in Global National Commerce Act