Senate Passes Fair Marketplace Practices Legislation
The Twenty-First Century Anti-Trust Act: S933C, sponsored by Senator Michael Gianaris, prohibits business actions or practices that establish or maintain a monopoly, monopsony or restraint of trade, requires pre-merger notifications to the Attorney General for businesses, and authorizes class-action lawsuits in the state antitrust law.
Penalties for Disruption-Related Fraud: S4954C, sponsored by Senator Zellnor Myrie, increases penalties for fraud that occurs in connection with an abnormal disruption of the market.
Creating transparency and reporting requirements for high volume third party online sellers: S8391, sponsored by Senator Kevin Thomas, requires certain high-volume third-party sellers in the online marketplace to provide certain information to the online marketplace and requires verification of such information and technical safeguards for data use.
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