Privacy & Information Security Law Blog

As part of its regulatory review of the Gramm-Leach-Bliley Act (“GLB”) Safeguards Rule, the Federal Trade Commission will hold a workshop, Information Security and Financial Institutions: An FTC Workshop to Examine the Safeguards Rule. The workshop, originally scheduled for May, has been postponed until July 13, 2020.

Workshop panelists will explore some of the issues raised in response to proposed amendments to the Safeguards Rule, which requires financial institutions covered by GLB to develop, implement and maintain a comprehensive information security program for handling customer information. The workshop comes after the FTC sought comments on the proposed amendments in 2019.

The workshop is also seeking information, empirical data and testimony on topics, such as:

• price models for specific elements of information security programs;
• standards for security in various industries;
• the availability of third-party information security services aimed at different sized institutions;
• information about penetration and vulnerability testing; and
• the costs of and possible alternatives to encryption and multifactor authentication.

The online-only workshop will be held on July 13, 2020, and webcast live from the FTC’s website.