Protecting Investors’ Personally Identifiable Information Act

Limit SEC access to investor data

This bill would define what counts as personally identifiable information (PII). Examples would include name, address, birth year, Social Security number, phone, email, and IP address. The bill would stop the SEC from requiring exchanges or their members to give investors' PII for routine order or reportable-event reporting. The SEC could request PII only if it asks for it for a securities-law investigation or enforcement action. Exchanges or members would have to provide requested PII within 24 hours unless the SEC grants more time. Any PII given for an investigation would have to be destroyed no later than one day after the matter ends. The bill would take effect upon enactment.