Regulatory Alerts2024-06-03 | 2024-11116Added
Regulation S-P: Privacy of Consumer Financial Information and Safeguarding Customer Information
The Securities and Exchange Commission adopted amendments to Regulation S-P requiring covered financial institutions to implement written incident response programs and provide timely customer notifications following unauthorized access to sensitive data. The rule extends safeguarding and disposal requirements to all transfer agents, broadens the scope of protected information, and mandates written records documenting compliance with these enhanced privacy and security standards. Additionally, the amendments conform annual privacy notice delivery provisions to statutory exceptions under the Gramm-Leach-Bliley Act to ensure consistent consumer protection.
Topics
privacy
infosec
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