H.R. 1483

Protecting Investors’ Personally Identifiable Information Act

Sponsor: Barry Loudermilk

5 cosponsors
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Official summary

Written by the Congressional Research Service.

Protecting Investors' Personally Identifiable Information Act

This bill limits certain disclosures of personally identifiable information belonging to a participant in the securities market for purposes of tracking market activity.

Specifically, the bill prohibits the Securities and Exchange Commission (SEC) from requiring a national securities exchange, a national securities association, or a member of such an exchange or association to provide such information to satisfy the reporting requirements of the Consolidated Audit Trail (data used by regulators to track market activity). 

Text of the bill

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Sec. 1. Short title Since introduced

This Act may be cited as the Protecting Investors’ Personally Identifiable Information Act.

Sec. 2. Personally identifiable information excluded from consolidated audit trail reporting requirements Changed · Sep 1

(a) In general. The Securities and Exchange Commission may not require a national securities exchange, a national securities association, or a member of such an exchange or association to provide personally identifiable information with respect to a market participant to meet the requirements relating to an order or a reportable event under section 242.613(c)(7) of title 17, Code of Federal Regulations.

(b) Definition of personally identifiable information. In this section, the term personally identifiable information means an individual’s name, address, date of birth, Social Security number, taxpayer-identification number, financial account number, driver’s license number, alien registration number, telephone number, email address, Internet Protocol address, or biometric data.