FTC to Corporate Boards: Mind Your Data Security
April 30, 2021
On April 28, 2021, the U.S. Federal Trade Commission (“FTC”) published a blog post reminding corporate Board of Directors of their responsibility to oversee data security issues and ensure that consumer and employee data are protected.
The FTC’s post is a continuation of its efforts to “elevate data security considerations to the C-Suite and Board level.”
By way of background, the FTC noted that it has continued to challenge companies’ data security practices on the grounds of allegedly deceptive or unfair conduct. The Commission is also actively reviewing certain data security rules targeted at safeguarding health records and consumer information held by financial institutions.
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