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H.R. 4785: American Customer Information Protection Act

The text of the bill below is as of Jan 12, 2018 (Introduced).


I

115th CONGRESS

2d Session

H. R. 4785

IN THE HOUSE OF REPRESENTATIVES

January 12, 2018

(for himself and Mr. Hultgren) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To prohibit the consolidated audit trail from accepting personally identifying information, and for other purposes.

1.

Short title

This Act may be cited as the American Customer Information Protection Act.

2.

No acceptance of personally identifying information

(a)

In general

The consolidated audit trail may not accept personally identifying information.

(b)

Exception for large traders

Subsection (a) shall not apply to information accepted by the consolidated audit trail in connection with large traders.

(c)

Definitions

For purposes of this section:

(1)

Consolidated audit trail

The term consolidated audit trail means the consolidated audit trail created by the national market system plan approved pursuant to section 242.613 and section 242.608 of title 17, Code of Federal Regulations (or any successor regulation).

(2)

Large trader

The term large trader has the meaning given that term under section 13(h)(8) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(h)(8)).

(3)

Personally identifying information

The term personally identifying information includes—

(A)

Social Security numbers;

(B)

individual taxpayer identification numbers;

(C)

other customer identifying information, when taken alone or together, sufficient to identify an individual, such as names, addresses, dates of birth, account numbers; and

(D)

any other information the Securities and Exchange Commission determines could be defined as personally identifying information.