ASSEMBLY FINANCIAL INSTITUTIONS AND INSURANCE COMMITTEE

STATEMENT TO

[First Reprint]

ASSEMBLY, No. 5017

with committee amendments

STATE OF NEW JERSEY

DATED:  MAY 15, 2025

      The Assembly Financial Institutions and Insurance Committee reports favorably and with committee amendments Assembly Bill No. 5017 (1R).

      As amended, this bill exempts insurance-support organizations and national securities associations from the provisions of N.J.S.A.56:8-166.4 et seq., which requires certain entities to notify consumers of collection and disclosure of personal data.  Under current law, insurance institutions and other entities are exempt from the requirements of N.J.S.A.56:8-166.4 et seq.

COMMITTEE AMENDMENTS:

      The committee amended the bill to:

      (1)  exempt national securities associations registered pursuant to section 15A of the “Securities and Exchange Act of 1934”; and

      (2)  make certain technical changes.