The purpose of this legislation, known as the SEC Data Protection Act, is to enhance the security of sensitive information that the Securities and Exchange Commission (SEC) receives from investment advisers. The main objective is to ensure that this proprietary information is protected from unauthorized access and misuse. Key provisions of the Act require the SEC to develop and implement data protection policies within one year of the law being enacted. These policies must be designed to safeguard sensitive, nonpublic information obtained from investment advisers.