Bill Details
HR.1483 - 119th Congress
Status
Latest action
2026-06-30 - Ordered to be Reported (Amended) by the Yeas and Nays: 27 - 21.
Introduced Date
2025-02-21
Policy Area
Finance and Financial Sector
Committees
View committees (1)
Cosponsors
6
0
0
AI Summary This summary was generated by AI from the bill text. AI can get information wrong.
This bill would stop the Securities and Exchange Commission from requiring stock exchanges, securities groups, or their members to collect and submit personally identifiable information as part of the consolidated audit trail, which is the system used to track market activity and orders. In simple terms, it aims to protect investors’ privacy by limiting what personal information can be included in these reports while still allowing the market tracking system to work.
- The SEC would not be allowed to require personal identity details for market participants when reporting orders or other reportable events under the audit trail rules.
- The bill defines personally identifiable information broadly, including a person’s name, address, birth date or year, Social Security number, phone number, email address, and IP address.
- The rule would apply to national securities exchanges, national securities associations, and their members.
Official Summaries
No summaries available
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1483 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 1483
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.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 21, 2025
Mr. Loudermilk (for himself, Mrs. Wagner, Mr. Meuser, and Mr. Huizenga)
introduced the following bill; which was referred to the Committee on
Financial Services
_______________________________________________________________________
A BILL
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,
SECTION 1. SHORT TITLE.
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.
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