*Letters

SIA, and Other Associations Submit Comments to the US House Energy and Commerce Committee on Notification of Data Breach

Published on:
March 28, 2006

The Securities Industry Association (SIA)*, as part of the Financial Services Coordinating Council (FSCC)**, provides comments to Chairman and Ranking Member ofthe U.S. House Energy and Commerce Committee proposed notification of data breach requirements, specifically the Data Accountability and Trust Act (H.R.4127). The Council reiterates previous comments to the Committee expressing serious concerns about the legislation. The member firms represented by the Council are already subject to the comprehensive privacy and data security requirements of the Gramm-Leach-Bliley Act (GBLA) and implementing regulations.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

The Financial Services Coordinating Council (FSCC) is comprised of the American Bankers Association, the American Council of Life Insurers, the American Insurance Association and the Securities Industry Association (SIA)

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