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119-hr-1483119th CongressWALLET

Protecting Investors’ Personally Identifiable Information Act

Sponsored By: Representative Loudermilk, Barry [R-GA-11]

In Committee

Summary

Prohibits the SEC from requiring investors' personally identifiable information in Consolidated Audit Trail (CAT) reports. The bill would bar national securities exchanges, national securities associations, and their members from providing those PII items to satisfy CAT order or reportable-event rules and explicitly defines PII to include 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, and biometric data.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Stops exchanges from sending investor personal data

This bill would stop the SEC from requiring a national securities exchange, a national securities association, or their members to provide certain personal data about a market participant when reporting an order or reportable event under 17 C.F.R. § 242.613(c)(7). Covered personal data would include name, address, date of birth, Social Security or taxpayer ID, financial account number, driver's license and alien registration numbers, telephone and email, IP address, and biometric data. If enacted, exchanges and their members would need to change CAT reporting and compliance practices to omit that data.

Sponsors & CoSponsors

Sponsor

Loudermilk, Barry [R-GA-11]

GA • R

Cosponsors

  • Rep. Wagner, Ann [R-MO-2]

    MO • R

    Sponsored 2/21/2025

  • Rep. Meuser, Daniel [R-PA-9]

    PA • R

    Sponsored 2/21/2025

  • Rep. Huizenga, Bill [R-MI-4]

    MI • R

    Sponsored 2/21/2025

  • Rep. Nunn, Zachary [R-IA-3]

    IA • R

    Sponsored 3/3/2025

  • Rep. Downing, Troy [R-MT-2]

    MT • R

    Sponsored 3/27/2025

Roll Call Votes

No roll call votes available for this bill.

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