HR4551-118

1. Short title This Act may be cited as the Protecting Investors’ Personally Identifiable Information Act.

2. Personally identifiable information excluded from consolidated audit trail reporting requirements Except as provided in subsection (b), 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). The Securities and Exchange Commission may only 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 if— the Commission makes a request for such information; and the information is related to an investigation of a violation of the Federal securities laws, a regulation issued thereunder, or an enforcement action with respect to such a violation. At the request of the Securities and Exchange Commission under subsection (b), a national securities exchange, a national securities association, or a member of such an exchange or association shall provide the personally identifiable information subject to such request not later than 24 hours after receiving such request, unless, at the request of such national securities exchange, a national securities association, or a member of such an exchange or association, the Securities and Exchange Commission provides a reasonable extension. In the case of personally identifiable information provided to the Securities and Exchange Commission under subsection (b), the Securities and Exchange Commission shall destroy such information not later than 1 day after the investigation or other matter for which such information was required is concluded. In this section, the term personally identifiable information— 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 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).