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The Safeguards Rule requires financial institutions under FTC jurisdiction to have measures in place to keep customer information secure.

What is the FTC Safeguards Rule? A recently revised U.S. Federal Trade Commission (FTC) ruling ? the Safeguards Rule ? requires non-banking financial institutions to develop, deploy and maintain a comprehensive security program to keep customer financial data safe.

The FTC Safeguards Rule requires covered companies to develop, implement, and maintain an information security program with administrative, technical, and physical safeguards designed to protect customer information.

To be GLBA compliant, financial institutions must communicate to their customers how they share the customers' sensitive data, inform customers of their right to opt-out if they prefer that their personal data not be shared with third parties, and apply specific protections to customers' private data in ance with ...

The Final Rule contains several important modifications to the Rule: It adds provisions designed to provide covered financial institutions with more guidance on how to develop and implement specific aspects of an overall information security program, such as access controls, authentication, and encryption.

The FTC Safeguards Rule requires covered companies to develop, implement, and maintain an information security program with administrative, technical, and physical safeguards designed to protect customer information.

The Safeguards Rule provides new requirements on how financial institutions that maintain customer information for 5,000 consumers or more must conduct risk assessments, which now must include the "(i) criteria for the evaluation and categorization of identified security risks or threats [the financial institution] ...

The Safeguards Rule applies to financial institutions (defined below) over which the FTC has jurisdiction. The term ?financial institution? captures any business engaged ?in an activity that is financial in nature or incidental to? financial activities.