To prohibit the Securities and Exchange Commission from requiring that personally identifiable information be collected under consolidated audit trail reporting requirements, and for other purposes.
Protecting Investors' Personally Identifiable Information Act
This bill prohibits the Securities and Exchange Commission (SEC) from requiring a national securities exchange, association, or a member of either to provide a market participant's personally identifiable information to satisfy the reporting requirements of the Consolidated Audit Trail (i.e., data used to track market activity). However, this information must be provided to the SEC upon request if the information is related to a securities investigation. The SEC must destroy the information not later than one day after the conclusion of the matter for which this information was required.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held
Ordered to be Reported (Amended) by the Yeas and Nays: 27 - 22.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-724.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-724.
Placed on the Union Calendar, Calendar No. 611.
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