On November 15, 2022, the Federal Trade Commission (FTC) announced it is extending the deadline for covered financial institutions to comply with the updated Safeguards Rule of the Gramm-Leach-Bliley Act (GLBA) by six months.
The FTC originally published updates to the Safeguards Rule in October 2021. Under the updated rule, covered financial institutions had until December 9, 2022, to comply with certain requirements intended to increase security and further protect customer information.