Red Flags Rule

News & Analysis as of

Federal Reserve Board Finalizes Rule Amending Red Flags Rule

The FRB repealed its several regulations including Regulation DD, Truth in Savings and, Regulation P, Privacy of Consumer Financial Information. The Dodd-Frank Act granted rulemaking authority for a number of consumer...more

Federal Reserve Board Repeals Duplicative Regulations, Finalizes Red Flag Rule Amendments

On May 22, the Federal Reserve Board repealed its Regulation DD, which implements TISA, and Regulation P, which implements Section 504 of the GLBA because the Dodd-Frank Act transferred rulemaking authority for those laws to...more

SEC Cybersecurity Initiative: Five Steps ALL Broker-Dealers and Investment Advisers Should be Taking

Last week, the U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert announcing its Cybersecurity Initiative....more

Federal Reserve Board Proposes To Repeal Duplicative Regulations Amend Identity Theft Red Flags Rule

On February 12, the Federal Reserve Board proposed to repeal its Regulation DD, which implements the TISA, and Regulation P, which implements Section 504 of the GLBA because the Dodd-Frank Act transferred rulemaking authority...more

Cyber Risk Is The “New Normal”

Introduction - Make no mistake, all companies—big or small—are vulnerable to a privacy breach or a network security incident. Cyber liability is the “new normal.” Cyber liability can be attributable to human error,...more

Reminder -- Compliance Date for Identity Theft Red Flags Rules is November 20, 2013

As a reminder, the Identity Theft Red Flags Rules jointly adopted by the SEC and CFTC, which took effect on May 20, 2013, have an upcoming compliance date of November 20, 2013. Under these rules, certain SEC and...more

Impact of the SEC and CFTC Issuing Final Identity Theft “Red Flag” Rules

On April 19, 2013, the Securities and Exchange Commission (“SEC”) and Commodity Futures Trading Commission (“CFTC” and, together with the SEC, the “Commissions”) published final rules (“Red Flag Rules”) in the Federal...more

Revised FTC Guide on ‘Red Flags’ Identity Theft Rule Published

UPDATE: The Federal Trade Commission recently issued a revised guide on the Red Flags Identity Theft Rule, designed to help businesses comply with the requirements of the Rule. Compliance with the Red Flags Rule for entities...more

Advertising Law -- Jun 27, 2013

Domino’s Delivers $9.75M TCPA Settlement - It took more than 30 minutes, but Domino’s Pizza delivered a settlement deal to a class of plaintiffs in a Telephone Consumer Protection Act suit totaling $9.75...more

Amended Red Flags Rule now in effect – are you still a creditor?

The FTC’s amended definition of “creditor” within the Red Flags Rule is now in effect. The definition is narrower in scope, but under it, a franchisor may still qualify as a “creditor.” For instance, if you use a...more

FTC Revises Red Flags Identity Theft Rule Business Guide

On June 12, the FTC issued revised guidance to help firms comply with its Red Flags Rule, which requires covered firms to monitor for and respond to certain “red flag” warnings of customer identify theft....more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - June 14, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY - CRIMINAL...more

SEC and CFTC Adopt "Red Flag" Identity Theft Rules

The SEC and the CFTC recently issued final rules requiring certain regulated entities that qualify as either "financial institutions" or "creditors" to adopt programs to identify and address the risk of identity theft...more

SEC and CFTC Jointly Adopt Identity Theft Red Flags Rules Applicable to Investment Advisers and Others

Regulation S-ID - On April 10, 2013, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly adopted identity theft red flags rules (the Rules) and corresponding...more

New SEC Identity Theft Red Flag Regulations Call Attention to Investment Advisers

It is probably fair to say most registered investment advisers, at least those below a certain size, did not pay a great deal of attention to the anti-identity theft, or “red flag” rules jointly adopted by the Federal Trade...more

FINRA Focuses on Anti-Money Laundering Procedures and Red Flags

Last week, the Financial Industry Regulatory Authority (FINRA) publicized penalties against three companies – as well as four associated individuals – that it found had failed to establish and implement adequate procedures...more

SEC and CFTC Take Over Responsibility for “Red Flags” Identity Theft Rules and Provide Clarifications

Effective May 20, 2013, the US Securities and Exchange Commission and the US Commodity Futures Trading Commission will take on joint responsibility for administering and enforcing identity theft “red flags” rules that closely...more

SEC and CFTC Issue Identity Theft Red Flags Rules Applicable to Financial Institutions and Creditors

The SEC and CFTC recently issued joint Identity Theft Red Flags Rules (the “Rules”), which are rules and guidelines requiring certain financial institutions worldwide to adopt comprehensive data security programs to detect...more

SEC and CFTC Issue Final Joint Rules on “Red Flags” Compliance

The Securities Exchange Commission (“SEC”) and the Commodity and Futures Trade Commission (“CFTC”) (together, the “Commissions”) have issued final joint rules and guidelines that require certain entities regulated by the...more

Final Red Flags Rules Adopted By SEC And CFTC

Today the CFTC and the SEC jointly issued final rules that require regulated entities to adopt programs designed to prevent identity theft – so-called “red flags” rules....more

Inside M&A - Winter 2013

In This Issue: - FCPA Due Diligence is Critical to Avoid Successor Liability in Cross-Border Transactions - China’s Merger Control Rules...more

The FTC’s Interim Final Red Flags Rule: What It Means for Non-Bank, Short-Term Consumer Lenders

On November 30, 2012, the Federal Trade Commission (FTC) issued an interim final rule related to its identity theft “Red Flags Rule” that amends the regulatory definition of “creditor” to make it consistent with the revised...more

Federal Trade Commission Announces Interim Final Red Flags Rule

The Federal Trade Commission’s interim final rule, which clarifies that most service providers are not subject to the Red Flags Rule, takes effect February 11, 2013....more

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