Protecting Investors’ Personally Identifiable Information Act

Hozzl · 2025-03-18T13:42:23Z

Explore the details of House Bill 1483 Protecting Investors’ Personally Identifiable Information Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

3/18/2025, 1:42 PM

Summary of Bill HR 1483

Bill 119 hr 1483, also known as the "Consolidated Audit Trail Reporting Requirements Protection Act," aims to prevent the Securities and Exchange Commission (SEC) from mandating the collection of personally identifiable information (PII) under the consolidated audit trail reporting requirements. The bill seeks to protect the privacy and security of individuals by prohibiting the SEC from requiring the collection of sensitive personal information as part of the audit trail reporting process.

The consolidated audit trail is a system that collects and stores trading data from all US stock and options exchanges in order to enhance market oversight and surveillance. However, concerns have been raised about the potential risks associated with collecting and storing PII, such as names, addresses, and social security numbers, as part of this process.

The bill aims to address these concerns by ensuring that the SEC cannot compel the collection of PII under the consolidated audit trail reporting requirements. By prohibiting the collection of sensitive personal information, the bill seeks to protect the privacy and security of individuals while still allowing for effective market oversight and surveillance. In addition to prohibiting the collection of PII, the bill also includes provisions for other purposes related to the consolidated audit trail reporting requirements. Overall, the Consolidated Audit Trail Reporting Requirements Protection Act aims to strike a balance between market oversight and individual privacy rights by preventing the SEC from requiring the collection of personally identifiable information under the consolidated audit trail reporting requirements.

Current Status of Bill HR 1483

Bill HR 1483 is currently in the status of Bill Introduced since February 21, 2025. Bill HR 1483 was introduced during Congress 119 and was introduced to the House on February 21, 2025. Bill HR 1483's most recent activity was Referred to the House Committee on Financial Services. as of February 21, 2025

Bipartisan Support of Bill HR 1483

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 1483

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 1483

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.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.

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