08 Dec FTC Amends GLBA Safeguards and Privacy Rules; Proposes New Security Incident Reporting Obligations for Financial Institutions

In a much-anticipated announcement last week, the FTC amended the Gramm-Leach-Bliley Act (GLBA) Safeguards Rule, and proposed a further amendment requiring certain financial institutions to provide the FTC with notice in the event of certain security events. Although these changes were announced after FTC...