8 months ago

The United States Securities and Exchange Commission (SEC) enacted Regulation S-P (Reg S-P) in 2000 to safeguard the financial information of consumers. Continue reading to learn more about thehttps://www.upguard.com/blog/data-security requirements of Reg S-P, discover what actionshttps://www.upguard.com/industries/financial-services must take to comply, and understand how the U.S. Securities Exchange Commission is looking to expand the law in the future. https://www.upguard.com/product/vendorrisk>SEC Regulation S-P: Privacy of Consumer Financial Information

Under SEC Regulation S-P, all applicable financial institutions must: Develop written policies to address the administrative, technical, and physical controls they have installed to continue safeguarding customer information Develop written policies to address unauthorized access and prevent the unauthorized use of information in connection with proper disposal

Regulation S-P requires financial institutions to provide an initial privacy notice to all consumers who will have their nonpublic personal information shared with a nonaffiliated third party.