Federal Trade Commission rule implementing the information security requirements of the Gramm Leach Bliley Act. Any record containing nonpublic, personally identifiable financial information of or about a customer handled by financial institutions are covered by the rule. Financial institutions should create ...
While the Safeguards Rule took effect in 2003, in October 2021, the FTC amended the Rule to adopt a broad definition of the term “financial institution” and create additional detailed compliance requirements. As amended, the Safeguards Rule requires financial institutions to establish an information...
Trustifi, with its fully integrated email security solution, delivers every adaptive technology control, including email encryption, archiving, and data loss prevention, along with reporting capabilities for auto dealerships to meet the FTC Safeguards Rule requirements. What are the Penalties for Failing...
The overall effect of the final rule is to generally align the Safeguards Rule with the New York State Division of Financial Services Cybersecurity Requirements (“NYDFS Cybersecurity Regulations”) 23 NYCRR 500, which issued prescriptive information security requirements, including the requiremen...
At the time they approved the updated Safeguards Rule, Democratic FTC Chair Lina Khan and Commissioner Rebecca Slaughter wrote that the new requirements would help tamp down massive data breaches, asserting that credit reporting agency Equifax likely would have avoided its massive 2017 data breach had...
(FTC)announcedthat it is delaying the effective date of certain changes to the Gramm–Leach–Bliley Safeguards Rule. The Safeguards Rule, which first became operative in 2003, imposes certain security requirements on non-banking financial institutions.The FTC amended the Rule in December 2021, and ...
Further, the Agencies note that, in addition to contractual obligations to a financial in- stitution, a service provider may be required to implement its own comprehensive infor- mation security program in accordance with the Safeguards Rule promulgated by the Federal Trade Commission (FTC), 12 ...
Safeguards Rule Section 5 of the FTC Actcompliance and litigation State Attorney General investigations and enforcement actions Telephone Consumer Protection Act (TCPA) compliance and litigation Technology platform provider liability Telemarketing Sales Rule(TSR) compliance and l...
order would require LabMD’s data security program “to meet an indeterminable standard of reasonableness.” Before theLabMDdecision, data security orders were typically modeled on the requirements of the Gramm–Leach–Bliley Safeguards Rule, which applies to financial institutions under FTC ...
Telemarketing Sales Rule and CAN-SPAM cases since 1999, as well as 89 data security cases. In addition to its law enforcement work, the agency also has engaged in rulemaking and policy work to push companies to bolster ...