Federal Legislation Proposed on Use of Electronic Signatures and RecordsWashington, DC, May 7, 1999 - Several bills have recently been introduced in Congress that address the use of electronic signatures and electronic records. These include the following: - S. 761, the "Millenium Digital Commerce Act," introduced by Senator Abraham (R-MI), sets forth general principles governing the use of electronic signatures in international transactions. Among other principles, the parties to a transaction would be permitted to determine the appropriate authentication technologies and implementation models for their transactions, with assurance that electronic signatures would be recognized and enforced.
- S. 921, the "Electronic Securities Transactions Act," also introduced by Senator Abraham, would facilitate electronic commerce by clarifying the legal status of electronic signatures for signed documents and records used in securities transactions involving broker-dealers, transfer agents, and investment advisers.
- H.R. 1714, the "Electronic Signatures in Global and National Commerce Act," introduced by Representative Bliley (R-VA), would facilitate the use of electronic records and signatures in both interstate and foreign commerce.
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