United States of America: Safeguards Rule on the security of customers' information by US Federal Trade Commission (FTC)

Progress

Current status
adopted
15 Nov 2022 adopted
27 Oct 2021 under deliberation

Scope

Implementers
United States of America
Policy Area
Data governance
Policy Instrument
Cybersecurity regulation
Regulated Economic Activity
other service provider
Government Branch
executive
Government Body
competition authority
Implementation Level
national

Timeline of events

15 Nov 2022
adopted

Postponed implementation of Standards for Safeguarding Customer Information Rule section 16 CFR 314.4

On 15 November 2022, the Federal Trade Commission (FTC) announced that it is extending the effective date of section 16 CFR 314.4 of the Standards for Safeguarding Customer Information Rule from 9 December 2022 to 9 June 2023. The Rule requires fina…

Source
Event type order
Action type postponement
Government branch executive
Government body competition authority
27 Oct 2021
under deliberation

Announced FTC Safeguards Rule on the security of customers' information

The amended Rule would expand the entities subject to the new requirements, defining the "financial institution" as entities that engage in any activity considered to be financial. Under the amended Rule, entities such as mortgage brokers, payday le…

Source
Event type order
Action type announcement
Government branch executive
Government body competition authority