Privacy Guidance for State-Registered IAs

On November 12, 1999, the Gramm-Leach-Bliley Act (GLBA) was signed into law, eliminating legal barriers between the securities, insurance, and banking industries. The law retains the oversight roles of federal and state agencies within their particular areas of expertise. One of the major components of GLBA is the creation of new privacy laws and regulations.2 The new privacy requirements went into effect on November 13, 2000, and compliance was made mandatory as of July 1, 2001.

NASAA is providing the information below to assist with compliance of privacy laws. It is designed to make you aware of the regulatory requirements and to help you think through potential civil liabilities for failure to develop and implement privacy policies and practices. It is not legal advice. You may want to consult an attorney regarding the applicability of GLBA’s privacy provisions to you.

Privacy Guidance for State Registered Investment Advisers

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