Proposed Rules Relating to Identity Theft Protection Act

SIFMA provides comments to the New Jersey Division of Consumer Affairs on proposed rules relating to the Identity Theft Protection Act (ITPA), N.J.A.C. 13:45F. SIFMA opposes the proposed rules because many of the key security breach provisions such as notification procedures and computer security systems requirements, as well as others, of the proposed rules are vastly different from the ITPA making them unclear and are inconsistent with the laws of other states. SIFMA believes the proposed regulations will negatively impact the operations of the securities industry and hinder its growth in the state.