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Data Breach Cybersecurity Gramm-Leach-Blilely Act

Constangy, Brooks, Smith & Prophete, LLP

Constangy’s 10 must-read articles of 2024

As we welcome 2025, here are 10 must-read Constangy bulletins and blog posts from 2024, highlighting insights that guided our readers through important legal developments, workplace issues, and the challenges in cybersecurity...more

Foley & Lardner LLP

Rolling With the Punches in a Networked World: CCOE Cybersecurity Panel Discussion

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Whether the game is football, baseball, hockey, or Indy Car racing, no team goes into their major championship matchup without training. Companies need to train as well if they intend to operate on the internet and expect to...more

Alston & Bird

Data Breach Notification Requirements Under the Safeguards Rule Now in Effect

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For years, the Gramm-Leach-Bliley Act (GLBA) has required financial institutions to maintain reasonable safeguards for consumer data, but has only had limited breach-reporting requirements. To the extent financial...more

Orrick, Herrington & Sutcliffe LLP

SEC Amends Privacy Rule to Establish Data Breach Notification Standard

The Securities and Exchange Commission (SEC) has amended its privacy rule – Regulation S-P – to establish a federal minimum standard for covered institutions to notify affected individuals of a data breach....more

Davis Wright Tremaine LLP

SEC Adopts Amendments to Regulation S-P That Require Reporting Breaches of "Sensitive Customer Information"

On May 15, the Securities and Exchange Commission adopted amendments to Regulation S-P, which covers broker-dealers, registered investment advisors (RIAs), and investment companies (funds). These entities are now required to...more

McGuireWoods LLP

Don’t Forget: It’s Time to Notify the FTC of Your Data Breach

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This summer, the Federal Trade Commission (“FTC”) will once again tighten the belt on entities that offer financial products and services when another round of amendments to the Gramm-Leach-Bliley Safeguards Rule goes into...more

Benesch

FTC Amends Financial Institution Safeguards Rule to Include New Obligation to Report Notification of Data Security Breaches

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The amended rule requires financial institutions to notify the FTC within 30 days of discovery of a security breach involving information of at least 500 consumers. ...more

Troutman Pepper Locke

More Privacy, Please - September/October 2023

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Editor’s Note: The FTC continues to crack down on privacy and cybersecurity, including issuing a new warning to tax preparation companies and entering into a consent decree with 1Health.io. VPPA and BIPA litigation continues...more

Cooley LLP

FTC Adds New Data Breach Reporting Obligations Under Safeguards Rule

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On October 27, 2023, the Federal Trade Commission (FTC) unanimously approved an amendment to the Gramm-Leach-Bliley Act (GLBA) Safeguards Rule to require certain covered financial institutions to report a broad range of data...more

Venable LLP

Data Breach Notice Requirement Added to Safeguards Rule for Non-bank Financial Institutions

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Non-bank financial institutions will have a new data breach disclosure requirement effective May 13, 2024. The Federal Trade Commission (FTC) recently updated the Gramm-Leach-Bliley Safeguards Rule (“Safeguards Rule”), adding...more

Polsinelli

FTC Adopts Data Breach Notification Obligations for Non-Banking Financial Institutions

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On October 27, 2023, the Federal Trade Commission (“FTC”) adopted an amendment to the FTC’s Safeguards Rule that will require non-banking financial institutions to notify the FTC within thirty days of discovering a data...more

Seward & Kissel LLP

FTC Imposes New Data Breach Notification Requirements

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On October 27, 2023, the Federal Trade Commission (the “FTC”) adopted a final rule (“Final Rule”) to amend the Standards for Safeguarding Customer Information (the “Safeguards Rule”). Among other things, the Final Rule will...more

Wilson Sonsini Goodrich & Rosati

FTC Amends Safeguard Rule with Requirement for Non-Banking Financial Institutions to Report Data Security Breaches

On October 27, 2023, the Federal Trade Commission (FTC) announced it is amending the Safeguards Rule of the Gramm-Leach-Bliley Act (GLBA) to include a requirement for non-bank financial institutions to report certain data...more

Jackson Lewis P.C.

Federal Trade Commission Expands Rule Regarding Reporting of Data Security Breaches

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The Federal Trade Commission (FTC) has approved an amendment to its Safeguards Rule that will require non-banking financial institutions to report certain data breaches (or “notification events”) to the FTC (not affected...more

Alston & Bird

FTC Approves New Data Breach Notification Requirement for Non-Banking Financial Institutions

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On October 27, 2023, the FTC approved an amendment to the Safeguards Rule (the “Amendment”) requiring that non-banking financial institutions notify the FTC in the event of a defined “Notification Event” where customer...more

Kelley Drye & Warren LLP

Safeguards Snafu? The Anomalous New Provision in the FTC’s Gramm-Leach-Bliley Safeguards Rule

Last week, the FTC announced that it had finalized its rulemaking to add data breach notification provisions to the Gramm-Leach-Bliley Act (GLBA) Safeguards Rule. As expected, the new provisions require non-bank financial...more

Dechert LLP

SEC Proposes Robust Amendments to Regulation S-P

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At an open meeting on March 15, 2023, the U.S. Securities and Exchange Commission voted unanimously to propose rule amendments to Regulation S-P (Proposed Rule) and published an accompanying release (Release). The Proposed...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

SEC Proposes Three New Cybersecurity Rules To Enhance Consumer Protection And Market Security

On March 15, 2023, the United States Securities and Exchange Commission (SEC) took a major step towards strengthening cybersecurity in the financial sector by proposing three new rules. These rules aim to improve privacy,...more

Davis Wright Tremaine LLP

SEC Proposes Host of New Rules for Data Security, Cybersecurity, and IT Resilience

The Securities and Exchange Commission (SEC or Commission) voted on March 15, 2023, to propose three new sets of rules for data security, cybersecurity, and IT operational resilience. The newly proposed rules would, among...more

HaystackID

[Webcast Transcript] Today’s Privacy Reality: AI, Assessments, Breach and DSARs

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Editor’s Note: On February 15, 2023, HaystackID shared an educational webcast to provide valuable insight into the ways in which AI is being used to address key issues in the realm of privacy and cybersecurity. The expert...more

WilmerHale

FTC Announces Six-Month Delay of Compliance Deadline for Updated Safeguards Rule

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On November 15, the Federal Trade Commission (FTC) announced a six-month delay of the deadline by which companies must comply with recent amendments to its Standards for Safeguarding Customer Information (“the Safeguards...more

Dechert LLP

Dechert Cyber Bits - Issue 22

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SEC Chair Gensler Indicates Commission is Looking to Update SEC’s Regulation S-P - On September 28, 2022, Securities and Exchange Commission (“SEC” or the “Commission”) Chairman Gary Gensler appeared via video at the...more

Foley & Lardner LLP

State Data Breach Notification Laws - September 2022

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While most state data breach notification statutes contain similar components, there are important differences, meaning a one-size-fits-all approach to notification will not suffice. What’s more, as data breaches continue to...more

Dechert LLP

Dechert Cyber Bits - Issue 5

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FTC Announces Regulatory Priorities for 2022 - On December 10, 2021, the Federal Trade Commission (“FTC”) published its Statement of Regulatory Priorities (“Announcement”) for 2022. The FTC’s priorities for the coming year...more

Morgan Lewis

Expanded Safeguards Rule Applicable to More Financial Institutions; Gives More Specificity on Security Requirements

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The Federal Trade Commission recently finalized a long-discussed update to its cybersecurity Safeguards Rule that includes more specific criteria for what financial institutions must implement as part of their information...more

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