Tag Archives: Security Safeguards

FTC significantly amends GLBA Safeguards Rule

The Federal Trade Commission (FTC or Commission) has issued a final rule clarifying its data security requirements for certain covered financial institutions. The new rule, which amends the Safeguards Rule originally promulgated in 2002 under the Gramm-Leach-Bliley Act (GLBA), outlines specific criteria to be incorporated as part of GLBA-covered financial institutions’ information security programs. The … Continue Reading

CFTC Issues Recommended Best Practices for Security of Financial Information

Last week, the Staff of the Commodity Futures Trading Commission (CFTC) issued Staff Advisory 14-21 on the subject of “Gramm-Leach-Bliley Act Security Safeguards.” The CFTC had issued guidance previously in Part 160 of the CFTC’s regulations on “Privacy of Consumer Financial Information” (April 27, 2001). Swap Dealers (SDs) and Major Swap Participants (MSPs) were added … Continue Reading