FTC privacy safeguards rule could apply to CPAs.

• Position: Brief Article

The Federal Trade Commission's Safeguards Rule, which implements the security provisions of the Gramm-Leach-Bliley Act, became effective on May 23. Financial institutions and other businesses that are subject to the rule--which could include tax preparers and financial advisers--must have in place a comprehensive security program to ensure the security and confidentiality of customer information.

To find out whether you or your firm is subject to the Safeguards Rule and to access more resources on compliance with the rule and the Gramm-Leach-Bliley Act, go to www.ftc.gov/bcp/conline/pubs/ buspubs/safeguards.htm.

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