A bill to require the Securities and Exchange Commission to promulgate regulations relating to the disclosure of certain commercial data, and for other purposes.
Designing Accounting Safeguards To Help Broaden Oversight and Regulations on Data
This bill requires commercial data operators (i.e., large consumer online services providers or data brokers) to disclose to users what types of user data are collected, and the usage and value of that data. Commercial data operators must also provide users with a way to delete this data. Violations of these requirements are enforced by the Federal Trade Commission.
Commercial data operators that issue securities must report the value of their user data and the value of any third-party contracts made for the collection of user data.
Referred to the Committee on Energy and Commerce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 116-182.
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