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House Bill 4785
115th Congress(2017-2018)
American Customer Information Protection Act
Introduced
Introduced
Introduced in House on Jan 12, 2018
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H. R. 4785 (Introduced-in-House)


115th CONGRESS
2d Session
H. R. 4785


To prohibit the consolidated audit trail from accepting personally identifying information, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

January 12, 2018

Mr. Huizenga (for himself and Mr. Hultgren) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To prohibit the consolidated audit trail from accepting personally identifying information, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “American Customer Information Protection Act”.

SEC. 2. No acceptance of personally identifying information.

(a) In general.—The consolidated audit trail may not accept personally identifying information.

(b) Exception for large traders.—Subsection (a) shall not apply to information accepted by the consolidated audit trail in connection with large traders.

(c) Definitions.—For purposes of this section:

(1) CONSOLIDATED AUDIT TRAIL.—The term “consolidated audit trail” means the consolidated audit trail created by the national market system plan approved pursuant to section 242.613 and section 242.608 of title 17, Code of Federal Regulations (or any successor regulation).

(2) LARGE TRADER.—The term “large trader” has the meaning given that term under section 13(h)(8) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(h)(8)).

(3) PERSONALLY IDENTIFYING INFORMATION.—The term “personally identifying information” includes—

(A) Social Security numbers;

(B) individual taxpayer identification numbers;

(C) other customer identifying information, when taken alone or together, sufficient to identify an individual, such as names, addresses, dates of birth, account numbers; and

(D) any other information the Securities and Exchange Commission determines could be defined as personally identifying information.