The Federal Trade Commission will hold a public workshop on May 13, 2020 seeking research, testimony, and other input on the proposed changes to the Safeguards Rule under the Gramm-Leach-Bliley Act.
The workshop will explore some of the issues raised in response to amendments the FTC has proposed making to the Safeguards Rule, which requires financial institutions to develop, implement, and maintain a comprehensive information security program. In 2019, the FTC sought comments on the proposed amendments to the Safeguards Rule.
The workshop is seeking information, empirical data, and testimony on such topics 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.
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