New Publication Provides Guidance on Revised FTC Safeguards Rule

It’s short, to the point, and – as these things go – readable in our opinion.This is a new publication called FTC Safeguards Rule: What Your Business Needs to Know may be the resource you are looking for to help your company comply with the revised Safeguards Rule.

After soliciting public comment, holding national forums, and reviewing input from consumers and businesses, the Federal Trade Commission (FTC) revised its standards for protecting customer information, better known as the Safeguard Rule, in December 2021. The rule requires financial institutions to comply with the FTC’s jurisdiction to establish measures to ensure the security of customer information.

Are you protected by safeguarding rules? This rule defines “financial institution” more broadly than you might think. FTC Safeguard Rules: What Your Business Needs to Know will guide you through an analysis to help make your decision.

Have you ever created an information security program but not cleaned it up in a while? The new publication serves as a reminder of your responsibility to revisit your plan periodically to ensure it is consistent with your current business practices and emerging security risks.

Have you updated your plan to reflect the rule revisions that take effect in January 2022? This guide uses a focused question-and-answer format to address questions you may have.