American Customer Information Protection Act

Bill: 115-hr-4785
Sponsor: full_name: Rep. Huizenga, Bill [R-MI-2]
Introduced: 2018-01-12
Policy area: Commerce
Subjects: Accounting and auditing

Banking and financial institutions regulation

Computer security and identity theft

Consumer affairs

Securities
Latest action: action_date: 2018-05-07
text: Placed on the Union Calendar, Calendar No. 510.

Summaries:
action_date: 2018-01-12
action_desc: Introduced in House
text: <p><b>American Customer Information Protection Act</b></p> <p>This bill prohibits the&nbsp;operator of the&nbsp;consolidated audit trail&nbsp;(a database that tracks trading&nbsp;in equities and options markets)&nbsp;from accepting personally identifying information, except for information accepted in connection with large traders. </p>

action_date: 2018-05-07
action_desc: Reported to House without amendment
text: <p><b>American Customer Information Protection Act</b></p> <p>This bill prohibits the&nbsp;operator of the&nbsp;consolidated audit trail&nbsp;(a database that tracks trading&nbsp;in equities and options markets)&nbsp;from accepting personally identifying information, except for information accepted in connection with large traders. </p>

tv_txt: I 115th CONGRESS 2d Session 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 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.

tv_txt: IB Union Calendar No. 510 115th CONGRESS 2d Session H. R. 4785 [Report No. 115–663] 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 May 7, 2018 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed 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.

May 7, 2018 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed