YourVoice.Now Summary
Civil LibertiesThe SEC could no longer make trading firms report investors' names and Social Security numbers — except for an investigation.
Civil Liberties
The SEC could not require stock exchanges or trading firms to report your name, Social Security number, or contact details for its audit trail. It could only ask for them during an investigation of a securities law violation.
When the SEC gets your personal details for an investigation, it would have to destroy them no later than 1 day after the case closes.
More about this bill
If you buy or sell stocks, the SEC could no longer make trading firms report your personal details in its audit trail. The SEC is the federal agency that oversees stock markets. The audit trail is a set of SEC rules for reporting stock orders. The protected details include your name, address, birth date, Social Security number, phone number, email, and IP address. The SEC could still get these details in one case. It would have to ask for them as part of looking into a broken securities law. The firm would then have 24 hours to send them, unless the SEC gave it more time. The SEC would have to destroy the details within 1 day after the case ends.
Congressional Summary
Protecting Investors' Personally Identifiable Information Act This bill prohibits the Securities and Exchange Commission (SEC) from requiring a national securities exchange or association (or a member of either) to provide a market participant's personally identifiable information to satisfy the reporting requirements of the Consolidated Audit Trail (i.e., data used to track market activity). However, this information must be provided to the SEC upon request if the information is related to a securities investigation. The SEC must destroy the information not later than one day after the conclusion of the matter for which this information was required.
Details
- Congress
- 119th
- Chamber
- Senate
- Status
- summarized
- Action
- Introduced in Senate
- Action Date
- 2025-02-20
- Date Added
- 2026-10-06
- Source
- Congress.gov →
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