House committee approves bill to limit sharing of investor personal data
/ 1 min read
Table of Contents
The House Committee on Financial Services has approved an amended version of the Protecting Investors’ Personally Identifiable Information Act. This bill would prohibit certain financial institutions and broker-dealers from sharing specific pieces of personal information about their clients with third parties without consent.
Why it matters: This is a targeted piece of financial privacy legislation that focuses on specific data points used in investment transactions rather than broad digital privacy rules.
Who it affects
- Financial institutions and broker-dealers
This information comes from Congress.gov regarding a House committee action; readers should consult the full text of the bill to see specific technical requirements before relying on it.
Agency: House
Source: Congress.gov — read the official document