H. R. 4785
IN THE HOUSE OF REPRESENTATIVES
January 12, 2018
Mr. Huizenga (for himself and Mr. Hultgren) introduced the following bill; which was referred to the Committee on Financial Services
To prohibit the consolidated audit trail from accepting personally identifying information, and for other purposes.
This Act may be cited as the
American Customer Information Protection Act.
No acceptance of personally identifying information
The consolidated audit trail may not accept personally identifying information.
Exception for large traders
Subsection (a) shall not apply to information accepted by the consolidated audit trail in connection with large traders.
For purposes of this section:
Consolidated audit trail
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).
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)).
Personally identifying information
personally identifying information includes—
Social Security numbers;
individual taxpayer identification numbers;
other customer identifying information, when taken alone or together, sufficient to identify an individual, such as names, addresses, dates of birth, account numbers; and
any other information the Securities and Exchange Commission determines could be defined as personally identifying information.