News & Analysis as of

Data Privacy Safeguards Rule

Furia Rubel Communications, Inc.

Embracing Data Privacy to Drive Business Growth with Aihong Yu, Chief Privacy Counsel of CDK Global

In this episode of On Record PR, Gina Rubel goes on record with Aihong Yu, Chief Privacy Counsel of CDK Global, to discuss how embracing privacy and security measures…...more

Goodwin

2023 Year in Review: Data Privacy and Cybersecurity

Goodwin on

Welcome to the Data Privacy and Cybersecurity chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - Amendments to key rules and regulations will take effect in 2024,...more

WilmerHale

Year in Review: The Top 10 US Data Privacy Developments From 2023

WilmerHale on

2023 marked a pivotal moment in US data privacy and cybersecurity, characterized by substantial regulatory and legislative advances at the international, federal, and state levels. The Federal Trade Commission (FTC) took a...more

Ballard Spahr LLP

FTC Announces New Safeguards Rule Breach Notification Requirements

Ballard Spahr LLP on

On October 27, the Federal Trade Commission (“FTC”) unanimously voted to amend the Safeguards Rule to require non-banking financial institutions to report data breaches and security events to the Agency. This amendment will...more

Foley & Lardner LLP

“Keeping Trade Practices on Your Radar”: Examining the Increased Federal & State Use of Unfair and Deceptive Trade Practices Laws...

Foley & Lardner LLP on

State Attorney Generals (“State AGs”) and the federal government are capturing headlines for increasingly suing large corporations for unfair and deceptive trade practices. In some cases, these actions are tackling...more

Hudson Cook, LLP

[Webinar] Compliance Coffee Break: Lessons from FTC Data Security Actions - March 14th, 2:00 pm - 2:30 pm ET

Hudson Cook, LLP on

Think only financial institutions have obligations to safeguard customer data? Think again. The FTC has taken several actions against non-financial institutions for data security practices in the last year. We’ll discuss FTC...more

Spilman Thomas & Battle, PLLC

Cybersecurity Rules and Colleges – Approaching Deadline

With only four months left before most changes to the federal Standards for Safeguarding Customer Information (“Safeguards Rule”) – a component of the Gramm-Leach Bliley Act (“GLBA”) that provides for the protection of...more

Ballard Spahr LLP

FTC Extends Deadline by Six Months for Updated Safeguards Rule

Ballard Spahr LLP on

On November 15, 2022, the FTC announced that it was extending by six months the deadline for companies to comply with some portions of the updated Safeguards Rule. The extension comes as a welcome relief to companies racing...more

Fisher Phillips

Steering Your Auto Dealership into Compliance with New Information Security Rules: A 9-Step Guide

Fisher Phillips on

Auto dealerships that provide financing are subject to the Gramm Leach Bliley Act (GLBA). That’s the old news. What’s new is that GLBA-covered businesses have until December 9 to implement significant changes to their...more

Sheppard Mullin Richter & Hampton LLP

Non-Banking Institutions Will Want to Review Security Measures in Light of Update to Safeguards Rule

The FTC recently announced a final rule updating its GLBA Safeguards Rule to “strengthen the data security safeguards” of consumer financial information. The FTC reported that it was making these changes in response to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - October 2021

In this month’s edition of our Privacy & Cybersecurity Update, we examine the FTC’s changes to the Gramm-Leach-Bliley Act’s Safeguards Rule and the CFPB’s order requiring six tech companies to disclose information regarding...more

Bradley Arant Boult Cummings LLP

FTC Finalizes Updated Safeguards Rule Under GLBA to Dramatically Expand Data Security Requirements and Scope of Rule

Until now, companies primarily regulated by the Federal Trade Commission (FTC) were given only vague directives to implement systems sufficient to safeguard customer data, coupled with FTC “recommendations” as to best...more

Ballard Spahr LLP

FTC makes significant changes to GLBA Safeguards Rule, requests comment on breach reporting, and adopts final privacy rule for...

Ballard Spahr LLP on

The FTC’s final rule released last week amending its Standards for Safeguarding Customer Information (Safeguards Rule) under the Gramm-Leach-Bliley Act (GLBA) will require significant changes in data security policies and...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Heightens Focus on Cybersecurity

On August 30, 2021, the Securities and Exchange Commission (SEC) announced that eight broker-dealers and/or investment advisers will pay civil monetary penalties to resolve enforcement actions arising from cybersecurity...more

Oberheiden P.C.

5 Keys to Performing A GLBA Audit

Oberheiden P.C. on

Purpose and Background of the GLBA - The Gramm-Leach-Bliley Act (“GLBA”), also known as the Financial Services Modernization Act of 1999, is a federal statute enacted by Congress in 1999 that requires financial...more

Oberheiden P.C.

Are You a Financial Institution? GLBA Law & Compliance

Oberheiden P.C. on

The Gramm-Leach-Bliley Act (GLBA) is a federal law that establishes various legal requirements for companies that qualify as “financial institutions” under the Act. The GLBA’s definition of a “financial institution” is...more

Hudson Cook, LLP

Legal Musings: Keep Privacy and Data Security on Your Radar

Hudson Cook, LLP on

Privacy and data security. If you don't have those issues on your radar, you should. Dealers have always had data privacy and safeguarding responsibilities. Nothing new here. But a change is coming. The basic privacy and data...more

Faegre Drinker Biddle & Reath LLP

Further Expansion of Data Security Requirements in FTC Order with LightYear Dealer Technologies

The FTC has entered into a settlement with LightYear Dealer Technologies, doing business as DealerBuilt, a technology company that develops and sells dealer management system (DMS) software and data processing services to...more

Akin Gump Strauss Hauer & Feld LLP

SEC Warns Registered Firms about Client Privacy and Data Security

• The SEC released a Risk Alert summarizing key areas in which it continues to see compliance deficiencies related to Regulation S-P, the primary SEC rule regarding privacy notices and safeguard policies of investment...more

Holland & Knight LLP

FTC Seeks Substantial Changes to the Privacy and Safeguards Rules

Holland & Knight LLP on

he Federal Trade Commission (FTC) has focused over the course of 2018-2019 on consumer protection, data security, privacy and FinTech issues as part of its review of "Competition and Consumer Protection Issues in the 21st...more

Sheppard Mullin Richter & Hampton LLP

SEC Issues $1 Million Identity Theft Rule Fine

The Securities and Exchange Commission recently settled with Voya Financial Advisors, Inc. for alleged violation of Regulation S-ID (otherwise known as the Identity Theft Red Flags Rule) and Regulation S-P (otherwise known as...more

Ballard Spahr LLP

ABA comments on CFPB’s RFI on consumer access to financial information

Ballard Spahr LLP on

The American Bankers Association has submitted a comment letter in response to the CFPB’s request for information regarding consumer access to financial information. The ABA observes that while larger institutions have...more

Mintz - Privacy & Cybersecurity Viewpoints

California AG Guidance for the Ed Tech Industry: 6 Recommendations to Protect Student Data Privacy

Developers and operators of educational technology services should take note. Just before the election, California Attorney General Kamala Harris provided a document laying out guidance for those providing education...more

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