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Protecting Investor Data: Limiting SEC Collection of Personal Information.

This bill enhances privacy for individual stock market investors. It prohibits the Securities and Exchange Commission (SEC) from routinely collecting and storing sensitive personally identifiable information (PII, like SSN or address) as part of the consolidated audit trail (CAT) system. This data can only be requested by the SEC for specific, targeted investigations into securities law violations.
Key points
Increased Privacy Protection: Exchanges and brokers are generally prohibited from providing your personally identifiable information (PII) to the SEC for routine market monitoring.
Data Access Limited to Investigations: The SEC can only request your PII if it is related to a specific investigation or enforcement action regarding a violation of federal securities laws.
Mandatory Data Destruction: Any PII provided to the SEC for an investigation must be destroyed by the Commission within one day after the conclusion of that matter, minimizing data breach risk.
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Expired
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Additional Information
Print number: 118_S_2230
Sponsor: Sen. Kennedy, John [R-LA]
Process start date: 2023-07-11
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Summarized by: gemini-2.5-flash-preview-09-2025
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_S_2230.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-07-11.

What are the main provisions?

Key points include:

  • Increased Privacy Protection: Exchanges and brokers are generally prohibited from providing your personally identifiable information (PII) to the SEC for routine market monitoring.
  • Data Access Limited to Investigations: The SEC can only request your PII if it is related to a specific investigation or enforcement action regarding a violation of federal securities laws.
  • Mandatory Data Destruction: Any PII provided to the SEC for an investigation must be destroyed by the Commission within one day after the conclusion of that matter, minimizing data breach risk.
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 2025-12-26.

CATEGORIES

Economy Security