SEC Proposes Revision to Privacy Act Rule

The Securities and Exchange Commission today proposed a rule that would revise the Commission’s regulations under the Privacy Act. The Privacy Act is the principal law governing the handling of personal information in the federal government. The current rules provide procedures for making Privacy Act requests, including requests for access to and amendment of records pertaining to the individual making the request. The revisions will clarify, update, and streamline the language of several procedural provisions. “I am pleased to support this proposal because, if adopted, it would broadly update our Privacy Act rules to account for modern technology, as well as provide the public with greater transparency into the Commission’s use of this data,” said SEC Chair Gary Gensler.