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House Bill 4551
118th Congress(2023-2024)
Protecting Investors’ Personally Identifiable Information Act
Introduced
Introduced
Introduced in House on Jul 11, 2023
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H. R. 4551 (Reported-in-House)

Union Calendar No. 611

118th CONGRESS
2d Session
H. R. 4551

[Report No. 118–724]


To prohibit the Securities and Exchange Commission from requiring that personally identifiable information be collected under consolidated audit trail reporting requirements, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

July 11, 2023

Mr. Loudermilk (for himself, Mr. Hill, Mr. Huizenga, Mrs. Wagner, Mr. Meuser, Mrs. Kim of California, and Mr. Nunn of Iowa) introduced the following bill; which was referred to the Committee on Financial Services

November 1, 2024

Additional sponsors: Mr. Self, Mr. Norman, Mr. Lawler, Mr. Flood, Mr. Fitzgerald, Mr. Sessions, Mr. Mooney, and Mr. Emmer

November 1, 2024

Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

[Strike out all after the enacting clause and insert the part printed in italic]

[For text of introduced bill, see copy of bill as introduced on July 11, 2023]

A BILL

To prohibit the Securities and Exchange Commission from requiring that personally identifiable information be collected under consolidated audit trail reporting requirements, 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 “Protecting Investors’ Personally Identifiable Information Act”.

SEC. 2. Personally identifiable information excluded from consolidated audit trail reporting requirements.

(a) In general.—The Securities and Exchange Commission may not require a national securities exchange, a national securities association, or a member of such an exchange or association to provide personally identifiable information with respect to a market participant to meet the requirements relating to an order or a reportable event under section 242.613(c)(7) of title 17, Code of Federal Regulations (or successor regulations).

(b) Definition of personally identifiable information.—In this section, the term “personally identifiable information”—

(1) means information that can be used to distinguish or trace an individual’s identity, either alone or when combined with other personal or identifying information that is linked or linkable to a specific individual, including an individual’s name, address, date or year of birth, Social Security number, telephone number, email, and IP-address; and

(2) does not include a CAT-Order-ID or CAT-Reporter-ID, as such terms are defined in section 242.613(j) of title 17, Code of Federal Regulations (or successor regulations).

Union Calendar No. 611

118th CONGRESS
     2d Session
H. R. 4551
[Report No. 118–724]
A BILL
To prohibit the Securities and Exchange Commission from requiring that personally identifiable information be collected under consolidated audit trail reporting requirements, and for other purposes.
November 1, 2024
Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed