Regulatory Alerts2020-04-01 | 2020-06506Added · Updated
Privacy Act of 1974; Privacy Act Regulation
The Board of Governors of the Federal Reserve System proposes to amend its Privacy Act regulation to exempt a new system of records, BGFRS-43, known as the FRB Security Sharing Platform. This system allows the Federal Reserve System to share information regarding individuals involved in incidents affecting the safety and security of its premises, personnel, and operations. The Board asserts that the system contains investigatory material compiled for law enforcement purposes, thereby justifying its exemption under 5 U.S.C. 552a(k)(2).
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