The 2023 Legal Guide to Privacy and Data Security is now available. This Guide is a collaborative effort between Lathrop GPM and the Minnesota Department of Employment and Economic Development (DEED). A digital version of the 2023 Legal Guide to Privacy and Data Security can be downloaded here.
The guide is written for non-lawyers and offers insight into a variety of privacy and data security-related laws, the impact of such laws on businesses, and best practices to mitigate risks.
We prepared the first version of this guide in 2014. Since then, DEED has published seven updated editions. The frequency of these updates is evidence of the ever-evolving legal landscape of data privacy and security.
New developments in 2023 include amendments to the Safeguards Rule of the Gramm Leach Bliley Act, which became effective October 27, 2022. These amendments expand the definition of financial institutions covered by the law and impose new burdensome requirements related to data security. Motor vehicle dealers and colleges are just two examples of non-banking “financial institutions” that now fit the expanded definition of so-called “finders” and are required to implement and maintain a comprehensive data security system that protects customer information.