US financial regulators can now keep insider risk records secret from the people in them

The Commodity Futures Trading Commission is creating a new program to track insider risks. The agency will keep records from this program secret, even from the people the records are about.

The US government has a law, the Privacy Act, that generally lets people see and correct records agencies keep about them. This change means that for insider risk investigations, the CFTC can bypass that law. It gives the agency more power to conduct internal investigations without individuals knowing they are being tracked or what information is being collected about them.