A bill to provide protection from requirements and prohibitions imposed upon persons subject to the jurisdiction of the United States by foreign nations concerning the disclosure of confidential business information, and for other purposes.
Protection of Confidential Business Information Act of 1983 - Directs the Securities and Exchange Commission to promulgate regulations protecting persons subject to U.S. jurisdiction, in appropriate circumstances, from the extraterritorial imposition by foreign nations of requirements to disclose confidential business information.
Authorizes any person required by a foreign nation to disclose confidential business information to apply to the Commission for a protective order. Grants the Commission authority to issue such an order upon specified findings.
Provides that no sanction for nondisclosure imposed by a foreign nation shall be enforceable in a U.S. court if such nondisclosure was permitted by rule of the Commission.
Establishes civil penalties for any violation of a rule or order promulgated under this Act.
Introduced in House
Introduced in House
Referred to House Committee on Energy and Commerce.
Referred to Subcommittee on Telecommunications, Consumer Protection and Finance.
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