CFTC Advisory on Gramm-Leach-Bliley Act Security Safeguards

28 February 2014
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  • The CFTC recently issued an advisory recommending certain "best practices" for covered financial institutions to comply with Title V of the Gramm-Leach-Bliley Act and Part 160 of the CFTC's regulations concerning security safeguards.
  • Part 160 provides that futures commission merchants, commodity trading advisors, commodity pool operators, introducing brokers, retail forex dealers, swap dealers and major swap participants must adopt policies and procedures that address safeguards for the protection of customer records and information.
  • The recommendations are consistent with guidelines and regulations issued by other federal financial regulators.