S. 658 is a bill that aims to prevent the Securities and Exchange Commission (SEC) from mandating the collection of personally identifiable information (PII) under the consolidated audit trail reporting requirements. It defines PII as data that can identify an individual,...
Simple Explanation
S. 658 is a rule that stops the government from collecting people's personal details, like names or addresses, when they track money trades. But if someone is suspected of breaking the rules, they can collect the details and must delete them after they're done checking.