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Protecting Investor Data: Ban on Collecting Personal Information

This new law prohibits the Securities and Exchange Commission (SEC) from collecting personally identifiable information, such as names or addresses, from financial market participants. This aims to enhance investor privacy and protect sensitive information from unauthorized access. Citizens can feel more secure knowing their financial data is better protected.
Key points
Prohibition on Personal Data Collection: The SEC cannot require names, addresses, Social Security numbers, phone numbers, emails, or IP addresses for stock market transaction reporting.
Increased Investor Privacy: Your sensitive financial data is better protected from disclosure.
Exclusions: The law does not apply to anonymous transaction identifiers that do not directly identify an individual.
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Expired
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Additional Information
Print number: 118_HR_4551
Sponsor: Rep. Loudermilk, Barry [R-GA-11]
Process start date: 2023-07-11
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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 118_HR_4551.

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 2023-07-11.

What are the main provisions?

Key points include:

  • Prohibition on Personal Data Collection: The SEC cannot require names, addresses, Social Security numbers, phone numbers, emails, or IP addresses for stock market transaction reporting.
  • Increased Investor Privacy: Your sensitive financial data is better protected from disclosure.
  • Exclusions: The law does not apply to anonymous transaction identifiers that do not directly identify an individual.
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: Placed on the Union Calendar, Calendar No. 611.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Courts and Law Economy