Proposed Reg. S-P Amendments: Some Concerns

Law360, New York (July 16, 2008, 12:00 AM EDT) -- Members of the securities industry have voiced concern in response to the U.S. Securities and Exchange Commission’s proposed amendments to Regulation S-P ― the consumer privacy and data security rules first adopted by the SEC in 2000.[1]

The proposed amendments would affect various provisions of Regulation S-P, including the Safeguards Rule enacted by the SEC under the Gramm-Leach-Bliley Act (“GLB Act”) in 2000, as well as the Disposal rule, which the SEC adopted in 2004 pursuant to the Fair Credit Transactions Act (FACT Act”).

The SEC...
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