Current through Reg. 50, No. 187; September 24, 2024
(1) These rules establish standards for
developing and implementing administrative, technical and physical safeguards
to protect the security, confidentiality, and integrity of customer
information, pursuant to Sections 501, 505(b), and 507 of the
Gramm-Leach-Bliley Act, codified at
15 U.S.C.
6801,
6805(b) and
6807.
(2)
(a)
Section 501(a) provides that it is the policy of the Congress that each
financial institution has an affirmative and continuing obligation to respect
the privacy of its customers and to protect the security and confidentiality of
those customers' nonpublic personal information.
(b) Section 501(b) requires the state
insurance regulatory authorities to establish appropriate standards for the
financial institutions under their jurisdiction relating to administrative,
technical, and physical safeguards:
1. To
ensure the security and confidentiality of customer records and
information;
2. To protect against
any anticipated threats or hazards to the security or integrity of such
records; and,
3. To protect against
unauthorized access to or use of records or information that could result in
substantial harm or inconvenience to a customer.
(c) Section 505(b)(2) requires state
insurance regulatory authorities to implement the standards prescribed under
Section 501(b) by rule with respect to persons engaged in providing
insurance.
(d) Section 507
provides, among other things, that a state regulation may afford persons
greater privacy protections than those provided by subtitle A of Title V of the
Gramm-Leach-Bliley Act.
(3) This Part requires that the safeguards
established pursuant to this Part shall apply to nonpublic personal
information, including nonpublic personal financial information and nonpublic
personal health information.
Rulemaking Authority 624.308(1), 626.9651 FS. Law
Implemented 624.307(1), 626.9651 FS.
New 12-8-02, Formerly
4-128.030.
