Protecting Investors’ Personally Identifiable Information Act
Sponsored By: Representative Loudermilk
Introduced
Summary
Protecting investors' personally identifiable information. This bill would prohibit the Securities and Exchange Commission from requiring national securities exchanges, national securities associations, or their members to provide personally identifiable information to satisfy consolidated audit trail (CAT) reporting requirements.
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- Investors and households: Protects individuals' privacy by blocking collection of identifiers used to trace identity, including name, address, date or year of birth, Social Security number, telephone number, email, and IP address, for CAT-related reporting.
- Exchanges, associations, and members: Prevents those market participants from being required to submit PII to meet an order or reportable-event requirement under 17 CFR 242.613(c)(7).
- Regulatory scope: Applies to CAT reporting under the cited CFR provision and any successor regulations and defines PII to include any linked or linkable information that can identify an individual.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Stop SEC from collecting investor personal data
This bill would stop the SEC from requiring national stock exchanges, securities associations, or their members to send investors’ personal data for Consolidated Audit Trail (CAT) trading reports. It would apply only to data tied to an order or a reportable event for those CAT reports. Personal data would include name, address, date or year of birth, Social Security number, phone number, email, and IP address, plus any linked information that can identify an individual.
Sponsors & CoSponsors
Sponsor
Loudermilk
GA • R
Cosponsors
Wagner
MO • R
Sponsored 2/21/2025
Meuser
PA • R
Sponsored 2/21/2025
Huizenga
MI • R
Sponsored 2/21/2025
Nunn (IA)
IA • R
Sponsored 3/3/2025
Downing
MT • R
Sponsored 3/27/2025
Roll Call Votes
No roll call votes available for this bill.
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