FTC GLBA Safeguards Rules – What You Need to Know

The Federal Trade Commission has finalized updated rules implementing the Gramm-Leach-Bliley Act (GLBA)’s standards for safeguarding customer information. The prior approach taken under the GLBA Safeguards Rule allowed financial institutions the flexibility to develop a written information security program that was appropriate to a company’s size, the nature of its activities, and the sensitivity of customer information. However, the new approach under the updated GLBA Safeguards Rule lays out prescriptive requirements in the following five areas which we will discuss during this webinar:

• Specific aspects of an overall information security program
• Accountability by boards of directors
• Exemptions for limited collection of personal information
• Expanded definition of a financial institution
• Newly incorporated definitions for the GLBA Privacy Rule