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Investor Data Protection: Less Personal Information Collected by SEC

New rules limit the collection of investors' personal information by the Securities and Exchange Commission (SEC). This means your name, address, or Social Security number will be less frequently required for stock transaction reporting. The SEC can only request this data in justified cases, and after the case concludes, the data must be destroyed.
Key points
Less automatic data collection: Exchanges and brokers will not routinely have to provide your personal information to the SEC for transaction reporting.
Data only upon request: The SEC can only request your personal data when necessary for a specific investigation or matter.
Prompt data destruction: If the SEC receives your data, it must destroy it within one day after the conclusion of the matter for which it was needed.
Increased privacy: Your data such as name, address, date of birth, or Social Security number are better protected.
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Additional Information
Print number: 117_HR_2039
Sponsor: Rep. Loudermilk, Barry [R-GA-11]
Process start date: 2021-03-18
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Protecting Investors’ Personally Identifiable Information Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2039.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-18.

What are the main provisions?

Key points include:

  • Less automatic data collection: Exchanges and brokers will not routinely have to provide your personal information to the SEC for transaction reporting.
  • Data only upon request: The SEC can only request your personal data when necessary for a specific investigation or matter.
  • Prompt data destruction: If the SEC receives your data, it must destroy it within one day after the conclusion of the matter for which it was needed.
  • Increased privacy: Your data such as name, address, date of birth, or Social Security number are better protected.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Loudermilk, Barry [R-GA-11].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Courts and Law Economy