InfoBytes Blog
SEC proposes revisions to Privacy Act
On February 14, the SEC issued a proposed rule to revise the Commission’s regulations under the Privacy Act of 1974, as amended. The Privacy Act governs the collection, maintenance, use, and dissemination of information about individuals that is maintained by the federal agencies. Under the Privacy Act, individuals are afforded a right of access to records pertaining to them and a right to have inaccurate records corrected. Among other things, the revisions would clarify, update, and streamline the language of several procedural provisions to codify current practices for processing public requests. The revisions would also clarify the SEC’s process for how individuals can access information pertaining to themselves. If adopted, the proposed rule would also revise procedural and fee provisions, eliminate unnecessary provisions, and allow for electronic methods to verify one’s identity and submit Privacy Act requests. Comments on the proposed rule are due April 17, or 30 days after publication in the Federal Register, whichever is later.