House Financial Services panel approves bill to halt collection of personal data under SEC program
The House Financial Services Committee approved legislation today that would halt the collection of personally identifiable information by a new Securities and Exchange Commission data-collection system.
The American Customer Information Protection Act, sponsored by House Financial Services subcommittee on capital markets, securities, and investment Chairman Bill Huizenga (R-MI) and co-sponsored by subcommittee vice-chairman Randy Hultgren (R-IL), was approved on a party-line vote of 31-25. Committee Democrats spoke out forcefully against the bill.
The bill prohibits the SEC’s consolidated audit...