FTC to Host Workshop Examining Issues Related to Proposed Amendments to the Safeguards Rule

The Federal Trade Commission will hold a public workshop on May 13, 2020 seeking research, testimony, and other input on the proposed changes to the Safeguards Rule under the Gramm-Leach-Bliley Act.

The workshop will explore some of the issues raised in response to amendments the FTC has proposed making to the Safeguards Rule, which requires financial institutions to develop, implement, and maintain a comprehensive information security program. In 2019, the FTC sought comments on the proposed amendments to the Safeguards Rule.

The workshop is seeking information, empirical data, and testimony on such topics as:

• price models for specific elements of information security programs;
• standards for security in various industries;
• the availability of third party information security services aimed at different sized institutions;
• information about penetration and vulnerability testing; and
• the costs of and possible alternatives to encryption and multifactor authentication.

The public can submit a comment on these topics until June 12, 2020. Instructions for filing comments can be found in the notice published in the Federal Register. Those interested in participating as a panelist at the workshop can email the FTC at safeguardsworkshop2020@ftc.gov by March 13, 2020. If a proposed panelist or commenter is affiliated with an entity that has provided funding for research, analysis, or commentary on relevant topics, please identify such funding and its source in your comment or in your request for consideration as a speaker.

The Commission voted 5-0 to submit the notice regarding the workshop to the Federal Register. Commissioners Noah Joshua Phillips and Christine S. Wilson and Commissioners Rohit Chopra and Rebecca Kelly Slaughter issued joint statements on the matter.

The workshop, which is free and open to the public, will take place at the Constitution Center, 400 7th Street SW, Washington, D.C., 20024. The agenda, directions to the Constitution Center building, and a list of speakers will be available in the future on the event webpage.