How California’s Privacy Act Impacts Advisors
April 8, 2020 by Kristen Mathews and Tiffany Quach
The California Consumer Privacy Act (CCPA) imposes sweeping obligations on a diverse array of businesses, but investment advisors subject to Regulation S-P (adopted pursuant to the federal Gramm-Leach-Bliley Act (GLBA)) are treated somewhat differently.
The CCPA applies to some personal information that advisors routinely handle. This checklist is intended to help IAs examine their compliance burden under the CCPA and track their compliance obligations for 2020 and 2021.
2020 is an opportunity for advisors to prepare for 2021, when certain exemptions are slated to expire and the full breadth of the CCPA’s requirements may kick in.
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