Proposal targets portability of client data
Proposed changes to securities regulations governing privacy would allow brokers to take certain customer information with them when moving to one broker-dealer or investment adviser to another.
Proposed changes to securities regulations governing privacy would allow brokers to take certain customer information with them when moving to one broker-dealer or investment adviser to another. In addition to providing more specific requirements for safeguarding data and responding to information security breaches, the proposed amendments to Regulation S-P would allow a firm to disclose to another firm a customer’s name, address, phone number, e-mail and a general description of accounts and products held by the customer. For more details and information on submitting comment by May 12, visit sec.gov/rules/proposed/2008/34-57427.pdf.
Learn more about reprints and licensing for this article.
