Protecting Investor Privacy Bill

Official: Protecting Investors’ Personally Identifiable Information Act

IntroducedN/A

Why This Matters

This bill protects the personal information of investors by limiting what the Securities and Exchange Commission can collect. It ensures that personal data is only used in specific investigations and must be destroyed quickly.

If you invest in the stock market, your personal information will be better protected from unnecessary collection.

Affects: Individual investors and market participants who trade securities.

Summary

This bill establishes eligibility requirements for the appointment of an individual in the Veterans Health Administration (VHA) as a marriage and family therapist who is qualified to provide clinical supervision. In order to be appointed as a marriage and family therapist in the VHA who is qualified to provide clinical supervision, a person must hold an appropriate master’s degree, be licensed or certified, and (1) be authorized to provide clinical supervision in the state they are licensed in, or (2) be designated as an approved supervisor by the American Association for Marriage and Family Therapy.

What changes is this bill making?

1. This bill stops the Securities and Exchange Commission from collecting personal information from investors. 2. It defines personal information as details that can identify an individual, like names and addresses. 3. The Commission can only request personal information during specific investigations of law violations. 4. If personal information is collected, it must be destroyed within one day after the investigation ends. 5. The bill aims to enhance privacy protections for individuals involved in securities markets.

Who is affected?

Individual investors and market participants who trade securities.