The SEC could no longer require exchanges and brokers to send personal investor details into CAT, a federal trade-tracking system. Trade reports would still exist, but names, Social Security numbers, emails, IP addresses, and similar data could not be required.
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Protecting Investors’ Personally Identifiable Information Act is a House bill in committee. The latest recorded action: Referred to the House Committee on Financial Services.
Latest action on H.R. 1483: Referred to the House Committee on Financial Services.
Who this affects: This bill mainly affects investors whose trades are tracked in CAT, the federal trade-tracking system. It also affects exchanges, securities associations, brokers, and other member firms that send trade reports. The SEC and market regulators would also feel the change because they may need different ways to connect trading activity to specific people.
Why this matters: This bill matters because it would change how much personal investor data sits in a central trade-tracking system. That could lower privacy and breach risks for investors. It could also make some investigations slower if regulators need extra steps to connect trades to real people. The bill does not say how the SEC should replace that lost identifying data.
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