#RegulationSP

SEC Adds New Incident Response Rules for Financial Sector

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May 17, 2024 at 02:16PM The SEC will implement new data-breach reporting regulations for financial firms, aiming to modernize consumer data protection rules. The amendments require institutions to address technology risks, develop incident response programs, and notify affected individuals of any breaches. SEC Chair Gary Gensler notes the significant changes in data breaches over the … Read more

SEC: Financial orgs have 30 days to send data breach notifications

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May 17, 2024 at 01:29PM The SEC has adopted amendments to Regulation S-P requiring certain financial institutions to notify individuals of data breaches within 30 days. The changes encompass breach notification, security policies, safeguard expansion, and compliance documentation. The modifications aim to update the rule, originally established in 2000, to better protect customer financial data. … Read more