Protecting Investors’ Personally Identifiable Information Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill aims to prevent the Securities and Exchange Commission (SEC) from demanding the collection of personally identifiable information (PII) when creating a consolidated audit trail. The consolidated audit trail is used to track securities transactions. The bill seeks to protect investor privacy by limiting the types of data the SEC can require for this reporting system.
Key provisions
- Prohibits the SEC from requiring personally identifiable information for consolidated audit trail reporting.
- Specifically excludes data like names, addresses, Social Security numbers, and IP addresses.
- Applies to national securities exchanges and associations, as well as their members.
- Addresses reporting requirements under 17 CFR § 242.613(c)(7).
Who is affected
- Securities and Exchange Commission (SEC)
- National Securities Exchanges
- National Securities Associations
- Members of Exchanges and Associations
- Market Participants
Notable changes
- Limits the SEC’s ability to collect PII during consolidated audit trail development.
- Provides a specific definition of ‘personally identifiable information’ for the purpose of this bill.
Bill text
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Sponsors
Official sponsors from legislative records.
6 on record
Primary sponsor
Cosponsors
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