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Protecting Investor Data: Less Information for Securities and Exchange Commission

This act aims to limit the amount of personal data the Securities and Exchange Commission (SEC) can collect from investors. This means your name, address, or phone number will be better protected, unless the SEC specifically requests them for a particular case. Once the case is concluded, the collected data must be destroyed.
Key points
The Securities and Exchange Commission (SEC) cannot automatically collect your personal information, such as name, address, or Social Security number, for transaction reporting.
The SEC can only request your personal information in justified cases, for example, during an investigation.
Collected personal data must be destroyed by the SEC within one day after the conclusion of the matter for which it was needed.
The act aims to enhance the privacy and data security of investors in the financial market.
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Expired
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Additional Information
Print number: 117_S_1209
Sponsor: Sen. Kennedy, John [R-LA]
Process start date: 2021-04-19
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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_S_1209.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-19.

What are the main provisions?

Key points include:

  • The Securities and Exchange Commission (SEC) cannot automatically collect your personal information, such as name, address, or Social Security number, for transaction reporting.
  • The SEC can only request your personal information in justified cases, for example, during an investigation.
  • Collected personal data must be destroyed by the SEC within one day after the conclusion of the matter for which it was needed.
  • The act aims to enhance the privacy and data security of investors in the financial market.
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 Sen. Kennedy, John [R-LA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy Courts and Law