Protecting Investors’ Personally Identifiable Information Act

This bill would stop the SEC from requiring stock exchanges and brokers to send in personally identifying details about investors to the system that tracks stock and options trades (the “consolidated audit trail”). The goal is to keep sensitive data—like names and Social Security numbers—out of large reporting databases while trades are still tracked for market oversight.

It defines “personally identifiable information” as data that can identify a person on its own or when combined with other data, including name, address, birth date or year, Social Security number, phone number, email, and IP address.

• Who is affected: Investors, stock and options exchanges, broker-dealers, and the SEC.
• What changes: Exchanges and brokers would no longer be required to submit investor PII to the trade-tracking system; the SEC would be barred from demanding that PII for these reports.
• When: Would take effect if enacted; no specific start date is stated in the text.