Bill > HR6161

This bill, known as the "SEC Data Protection Act," amends the Investment Advisers Act of 1940 to require the Securities and Exchange Commission (SEC) to develop comprehensive data protection policies within one year of the bill's enactment. Specifically, the bill mandates that the SEC create procedures to protect sensitive, non-public proprietary information received from investment advisers, ensuring that such information is safeguarded from unauthorized use or disclosure. The required policies must address the circumstances under which the SEC requests proprietary information, implement protections that consider the sensitivity of the information, restrict access to appropriate staff members, and establish robust mechanisms to prevent unlawful use or disclosure of the data. This legislation aims to enhance the security and confidentiality of confidential business information that investment advisers share with the SEC during regulatory oversight and reporting processes.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/6161/all-info