BILL ANALYSIS

HR7816

NEUTRAL

Protect Liberty and End Warrantless Surveillance Act of 2026

HR7816 (Protect Liberty and End Warrantless Surveillance Act of 2026) carries an AI-assessed market impact score of 4/10 with a neutral outlook for investors. This legislation directly affects CrowdStrike ($CRWD), Palo Alto Networks ($PANW), $S and Fortinet ($FTNT) and 5 other tickers. The primary sectors impacted are Technology. View the full bill text on Congress.gov.

4/10

Impact Score

neutral

Market Sentiment

Affected Stocks

Sectors Impacted

Key Takeaways for Investors

HR7816 aims to reform FISA and restrict government access to commercially available data.

The bill is in the early committee stage and does not include direct funding authorizations.

Companies involved in data brokerage and those providing cybersecurity and privacy solutions could be affected by new regulatory requirements.

How HR7816 Affects the Market

The "Protect Liberty and End Warrantless Surveillance Act of 2026" is a regulatory bill that, if passed, would primarily impact the Technology sector. Companies that collect and manage large datasets, including major tech firms like Microsoft ($MSFT), Google ($GOOGL), Amazon ($AMZN), Meta ($META), and Apple ($AAPL), could face new compliance requirements regarding government access to user data. Cybersecurity companies such as CrowdStrike ($CRWD), Palo Alto Networks ($PANW), SentinelOne ($S), and Fortinet ($FTNT) may see increased demand for privacy-enhancing technologies and services as companies adapt to stricter data access regulations. The bill's current status as 'Referred to committee' indicates a long legislative path ahead, and its ultimate form and market impact are subject to significant change.

Bill Details

Metric	Value
Bill Number	HR7816
Impact Score	4/10Certainty: Committee hearing · Financial Magnitude: No explicit funding identified · Strategic Weight: AI qualitative assessment: 4/10 · Market Penetration: 9 companies — very broad impact
Market Sentiment	neutral
Event Date	March 5, 2026
Affected Sectors	Technology
Affected Stocks	CrowdStrike ($CRWD), Palo Alto Networks ($PANW), $S, Fortinet ($FTNT), Microsoft ($MSFT), Alphabet ($GOOGL), Amazon ($AMZN), Meta Platforms ($META), Apple ($AAPL)
Source	View on Congress.gov →

Summary

HR7816, the "Protect Liberty and End Warrantless Surveillance Act of 2026," aims to reform the Foreign Intelligence Surveillance Act (FISA) and restrict law enforcement and intelligence agencies from obtaining certain commercially available information. This bill is in the early stages, having been referred to two committees, and does not contain explicit funding authorizations.

Full AI Market Analysis

HR7816, titled the "Protect Liberty and End Warrantless Surveillance Act of 2026," was introduced in the House on March 5, 2026, and subsequently referred to the Committee on the Judiciary and the Permanent Select Committee on Intelligence. The bill seeks to amend the Foreign Intelligence Surveillance Act of 1978 to implement reforms, specifically prohibiting warrantless queries for communications of United States persons and limiting directives under FISA related to certain electronic communication service providers. Additionally, it aims to amend title 18, United States Code, to prevent law enforcement and intelligence agencies from obtaining certain commercially available information, including protections for records held by data brokers. This bill does not authorize or appropriate any specific funding. Its primary mechanism is regulatory, aiming to restrict government access to data rather than providing financial incentives or direct procurement. Therefore, there is no direct money trail from this legislation to specific companies in terms of government contracts or grants. The impact would be through changes in operational requirements for intelligence agencies and data-handling practices for companies. Structural winners under this legislation, if enacted, would be companies that prioritize and can effectively market enhanced privacy and data protection services, as the regulatory environment for government access to data would become more stringent. This could include cybersecurity firms like CrowdStrike ($CRWD), Palo Alto Networks ($PANW), SentinelOne ($S), and Fortinet ($FTNT) that offer privacy-enhancing technologies. Companies that collect and sell commercially available information, such as large technology platforms like Microsoft ($MSFT), Google ($GOOGL), Amazon ($AMZN), Meta ($META), and Apple ($AAPL), could face new restrictions on how their data is accessed by government entities, potentially requiring adjustments to their data handling and disclosure policies. The bill's focus on data brokers suggests a direct impact on companies whose business models revolve around aggregating and selling personal data. Given its early stage, having only been referred to committees, the legislative timeline for HR7816 is extensive. It must pass through committee review, potentially undergo amendments, be voted on by the full House, then proceed to the Senate for a similar process, and finally be signed by the President. The presence of related bills (HR8035 and HR8322) indicates ongoing legislative interest in FISA reform, with HR8322 having already become Public Law No: 119-84, extending certain FISA authorities through April 30, 2026. This suggests that while there is momentum for FISA-related legislation, the specific reforms proposed in HR7816 are still subject to significant debate and potential modification.