Inside the FTC Safeguards Rule

1:00 – Brian initiated the discussion and provided a brief overview of the Safeguard Rules, highlighting their scope, functionality, and associated regulations.

3:50 – Tim clarified the specific sector to which the rules are applicable, while Brian proceeded to illustrate several prevalent industries that, based on his experience, often struggle with managing sensitive information, such as social security numbers and similar data.

8:10 – Robb inquired about the last industry mentioned in the list and expressed astonishment upon learning that it was a "non-federally insured credit union." Brian explained that certain credit unions are affiliated with specific companies and drew upon his past professional experience working in such an institution.

11:04 – Robb inquired about the implementation timeline for the new rules, to which Brian clarified that they were initially introduced in December 2022 and were granted an additional extension until June 9, 2023. Brian expressed his belief that there would not be any further extensions beyond this point. He proceeded to outline the essential tasks that needed to be undertaken, including the proper handling and encryption of sensitive data, the development of incident response plans, and various other requirements. Brian highlighted that there were a total of 17 items on the list that needed to be addressed.

15:13 – Brian discussed how this new rule will be beneficial for the MSP. Robb pitched in some of his ideas on how he could build a more successful campaign using the new safeguard rule.