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Aug. 28, 2024

5) Complying With the FTC’s Amended Safeguards Rule’s New Reporting Requirement

  • Jaclyn Jaeger
    Cybersecurity Law Report
Non‑banking financial institutions regulated by the FTC, including financial technology companies, mortgage brokers, credit counselors, financial planners and tax preparers, among others, are now required to report certain data breaches and other security events directly to the FTC. This article analyzed the latest amendment to the Standards for Safeguarding Customer Information (Final Rule) and offered practical measures for non‑bank financial institutions to take in response to the Final Rule’s new reporting requirement, which took effect on May 13, 2024.

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