Republican members of the U.S. Senate Banking Committee released a discussion draft of proposed legislation "to help accelerate economic growth and spur new business formation."
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The U.S. House Financial Services Committee considered proposed public market reforms, including legislation to enhance investor protections relating to special purpose acquisition companies.
Senator John Kennedy (R-LA) introduced the "Protecting Investors' Personally Identifiable Information Act." The legislation would exclude personally identifiable information from Consolidated Audit Trail reporting requirements.
In testimony before the Senate Committee on Banking, Housing and Urban Affairs, SEC Chair Jay Clayton described progress on the agency's FY 2019 initiatives.
The Senate Banking Committee considered data protection and other concerns raised about the consolidated audit trail system.