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Advocacy in action blog

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NAIFA Joins with Joint-Trades Coalition to Weigh in on Data Privacy Bill

By Mike Hedge on 3/1/23 5:07 PM

NAIFA joined in a letter of support to the House Financial Services Committee for efforts in introducing the Data Privacy Act of 2023. The Data Privacy Act would modernize the Gramm-Leach-Bliley Act (GLBA), a working data privacy framework for insurance consistent with consumer expectations.

Topics: Federal Advocacy Supported Legislation Data Security
1 min read

NAIFA Opposes IRS Reporting Proposal That Raises Cost and Privacy Concerns

By NAIFA on 10/15/21 5:45 PM

NAIFA has joined more than 100 organizations expressing privacy and cost concerns with a Biden administration proposal that would require financial services providers to track and submit to the IRS information on every account with deposits or withdrawals totaling $600 or more annually.

Topics: Federal Advocacy IRS Privacy Data Security
1 min read

Cybersecurity Bill Passes Wisconsin Senate With NAIFA Amendment

By NAIFA-Wisconsin on 6/9/21 4:50 PM

New data security standards for the insurance industry passed the Wisconsin State Senate on June 9, 2021, on a voice vote. 

Topics: State Advocacy Wisconsin Privacy Data Security
1 min read

NAIFA-WI Objects to Proposed Layers of Data Privacy Regulations

By Julie Harrison on 3/1/21 2:42 PM

NAIFA-WI joined other trade associations representing the insurance and financial services industry to push back on a potential regulatory proposal that would complicate existing data privacy and security laws.

Topics: State Advocacy Wisconsin Grassroots Privacy Data Security
1 min read

The SEC’s CAT Database Brings Data Security Concerns

By NAIFA on 8/13/20 1:28 PM

The Securities and Exchange Commission (SEC) in June began requiring broker-dealers to submit detailed information on securities trades to the SEC’s Consolidated Audit Trail (CAT) database. A similar requirement for options trades went into effect in July. The purpose of the CAT is to allow SEC regulators to identify and analyze irregularities and threats to the securities markets.

Topics: SEC Federal Advocacy Privacy Data Security
1 min read

SEC Warns of Increase in Cybercrimes Targeting Financial Professionals

By NAIFA on 7/14/20 11:23 AM

The Securities and Exchange Commission has issued a Risk Alert warning about an increase in cybercrimes targeting financial professionals and institutions. The document, issued by the SEC’s Office of Compliance Inspections and Examinations (OCIE), says scammers have targeted “broker-dealers, investment advisers, and investment companies” and others in the financial services industry with phishing and ransomware attacks.

Topics: SEC Federal Advocacy Privacy Data Security
1 min read

NAIFA-WI Pushes Back on Potential Layering of Data Privacy Regulations

By NAIFA on 6/11/20 12:10 PM

NAIFA-WI teamed up with other trade associations representing the insurance and financial services industry to push back on a potential regulatory proposal that would complicate existing data privacy and security laws. 

Topics: State Advocacy Wisconsin Grassroots Privacy Data Security
1 min read

NAIFA Chapters Lobby for Suggested Revisions to NAIC Cybersecurity Model Law

By NAIFA Government Relations Team on 2/27/20 12:00 PM

In 2017, the National Association of Insurance Commissioners adopted a Data Security Model Law and states have been quick to respond. So far, South Carolina has been the only state to adopt the actual model with no modifications –which isn’t too surprising considering South Carolina’s Insurance Director, Ray Farmer, led the Cybersecurity Working Group at the NAIC.

Topics: Interstate Advocacy Privacy Data Security

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