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FTC Proposes to Add Detailed Cybersecurity Requirements to the GLBA Safeguards Rule

Posted on March 8, 2019 by Dissent

Mike Nonaka, Libbie Canter, David Stein and Sam Adriance of Covington & Burling write:

On March 5, 2019 the Federal Trade Commission (“FTC”) published requests for comment on proposed amendments to two key rules under the Gramm-Leach-Bliley Act (“GLBA”). Most significantly, the FTC is proposing to add more detailed requirements to the Safeguards Rule, which governs the information security programs financial institutions must implement to protect customer data.

In addition, the FTC is proposing to expand the definition of “financial institution” under the Safeguards Rule and the Privacy Rule to include “finders.” Finally, the FTC is proposing to amend the Privacy Rule to make technical and conforming changes resulting from legislative amendments to GLBA in the Dodd-Frank Act and FAST Act of 2015.

Read more on Inside Privacy.

Related posts:

  • Updates to the Gramm-Leach-Bliley Act Cybersecurity Requirements
  • FTC Takes Action Against Drizly and its CEO James Cory Rellas for Security Failures that Exposed Data of 2.5 Million Consumers
  • FTC Finalizes Changes to the Health Breach Notification Rule
  • FTC Provides Guidance on Updated Safeguards Rule
Category: Breach LawsCommentaries and AnalysesFederalLegislationOf NoteU.S.

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