All financial institutions, according to the Federal Trade Commission Safeguards Rule, must develop a security plan that does all of the following except
A) Designates one or more employees to coordinate the safeguard efforts
B) Partner with the Federal Trade Commission to access confidential data when needed
C) Designs and implements a safeguards program and regularly monitors and tests it
D) Selects appropriate service providers and makes them implement safeguards

Question

Quizplus · Accepted Answer

The Federal Trade Commission Safeguards Rule does not require financial institutions to partner with the Federal Trade Commission to access confidential data when needed. The other options listed (designating an employee to coordinate safeguards, designing and implementing a safeguards program, and selecting appropriate service providers and making them implement safeguards) are all requirements of the Safeguards Rule.

All Financial Institutions, According to the Federal Trade Commission Safeguards