The purpose of this paper is to explain the SEC's proposed amendments to Regulation S‐P to enhance the protection of consumer financial information.
The paper explains: the safeguards and disposal rules; the Commission's proposal to broaden the scope of the information covered by the safeguards and disposal rules; the proposed extension of disposal rule to individuals; the proposed more detailed standards for safeguarding information; the proposed more detailed standards for responding to data security breaches; and a proposed exception to Regulation S‐P for representatives who move to a new firm.
The paper reveals that the SEC has seen an increasing number of security breaches and, therefore, believes an enhancement to these rules is warranted.
The paper provides a clear explanation of proposed rule changes by experienced securities lawyers.
Emerald Group Publishing Limited
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