H.R. 1483, the Protecting Investors' Personally Identifiable Information Act, would prohibit the Securities and Exchange Commission (SEC) from requiring securities exchanges, broker associations, and their members to submit personal identifying information—such as names, addresses, Social Security numbers, and email addresses—as part of consolidated audit trail reporting requirements. The bill targets the SEC's current regulatory framework that mandates the collection of this data to track market participants and their trading activities. The legislation would affect financial institutions and brokers that currently must comply with SEC audit trail rules, potentially reducing the amount of sensitive investor data held in centralized regulatory databases. No specific funding or timeline is included in the bill text. The measure appears designed to enhance privacy protections for investors by limiting the personal data the SEC can require in its market surveillance programs.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.