SEC Data Protection: New Rules for Safeguarding Sensitive Financial Information.
This Act mandates the Securities and Exchange Commission (SEC) to establish strict policies for protecting sensitive, nonpublic proprietary information received from investment advisers. The goal is to prevent the unlawful use or disclosure of critical financial data. This strengthens market integrity and indirectly protects investors' interests by ensuring the regulator handles confidential information securely.
Key points
The SEC must implement new procedures within one year to safeguard proprietary financial data submitted by investment advisers.
These policies require limiting access to sensitive information only to authorized SEC staff.
The procedures must protect the information from unlawful use or unauthorized disclosure, considering the data's sensitivity level.
Status:
Introduced
Civic Will
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.