DASHBOARD Act of 2025

The DASHBOARD Act of 2025 would create new requirements around how large commercial data operators handle and disclose user data, and it would expand SEC and FTC oversight in two complementary ways. First, it would require the FTC to regulate how commercial data operators collect, hold, delete, and disclose user data, including providing users with regular (at least every 90 days) assessments of the value the operator places on that user’s data, and giving users an easy way to delete their data (with limited legal and security-based exceptions). Second, it would require the Securities and Exchange Commission (SEC) to require annual or quarterly disclosures by issuers that are commercial data operators (or their consolidated subsidiaries) of the aggregate value of user data held, contracts for data collection by third parties, and other data-related items deemed useful for investors. The act also directs the SEC to develop a standard method for valuing user data and to add qualitative disclosures about data protection, risks, data sources, major data-related contracts, and significant data acquisitions. Finally, the act requires a congressionally led assessment and a rulemaking process to implement these measures. In short, the bill aims to increase transparency about the value and use of consumer data, empower individuals with deletion rights and clearer notices, and press public companies to disclose data-related economic facts and risks to investors. It establishes a two-front regulatory approach (FTC for operator practices and SEC for investor-facing disclosures) and seeks to standardize how the value of user data is calculated and communicated.