SEC amends Regulation S-P

The Securities and Exchange Commission this morning announced its adoption of amendments to Regulation S-P to modernize and enhance the rules that govern the treatment of consumers’ nonpublic personal information by certain financial institutions. The amendments update the rules’ requirements for broker-dealers (including funding portals), investment companies, registered investment advisers, and transfer agents (collectively, “covered institutions”) to address the expanded use of technology and corresponding risks that have emerged since the Commission originally adopted Regulation S-P in 2000.

The rule will become effective 60 days after publication in the Federal Register, with compliance dates detailed in the rule.

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