The Federal Trade Commission (FTC) has postponed the administration of the "Red Flags Rule" from August 1, 2009 until November 1, 2009, after a number of businesses expressed concern over the lack of specificity of the compliance requirements. In the interim, the FTC plans to provide more guidance to businesses regarding identity theft and their responsibilities under the Red Flags Rule.
Although the date for enforcement of the Red Flags Rule has been postponed for an additional 3 months, businesses should still plan ahead to ensure their future compliance with these new regulations.
Please contact the Nukk-Freemen & Cerra, P.C. attorney with whom you normally work should you need assistance in determining the appropriate action your company is obliged to make under these new rules or if you have any further questions on this topic.
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