3 new things to know about FTC Safeguards Rule review

As part of its regulatory review, the FTC announced earlier this year Information Security and Financial Institutions: An FTC Workshop to Examine the Safeguards Rule. If the Safeguards Rule is of interest to you or your clients, you’ll want to know about three new developments.

First, the FTC has postponed the workshop and rescheduled it for July 13, 2020. If you’rd like to participate as a panelist on the new date, email us at safeguardsworkshop2020@ftc.gov by May 14th.

Second, it will be a virtual workshop, taking place online only. You can watch the webcast live on July 13th.

Third, the workshop will continue to focus on some of the issues raised in response the FTC’s proposed amendment to the Gramm-Leach-Bliley Safeguards Rule, which requires financial institutions to develop, implement, and maintain a comprehensive information security program. But we’ve extended until August 12, 2020, the deadline for you to file comments on the topics that will be discussed at the workshop.

As always, if you intend to volunteer as a panelist or file a comment and you’re affiliated with an entity that has provided funding for research, analysis, or commentary on relevant topics, please identify that source of funding in your submission.