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119th CONGRESS
1st Session |
To prohibit the Securities and Exchange Commission from requiring that personally identifiable information be collected under consolidated audit trail reporting requirements, and for other purposes.
Mr. Loudermilk (for himself, Mrs. Wagner, Mr. Meuser, and Mr. Huizenga) introduced the following bill; which was referred to the Committee on Financial Services
To prohibit the Securities and Exchange Commission from requiring that personally identifiable information be collected under consolidated audit trail reporting requirements, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
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.
(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 (or successor regulations).
(b) Definition of personally identifiable information.—In this section, the term “personally identifiable information” means information that can be used to distinguish or trace an individual’s identity, either alone or when combined with other personal or identifying information that is linked or linkable to a specific individual, including an individual’s name, address, date or year of birth, Social Security number, telephone number, email, and IP-address.