Gain practical guidance to ensure that brokerage management has implemented the new privacy breach policy. This policy, effective November 1, 2018 will allow the brokerage to be in compliance with the strict new Canadian security breach notification requirements.
The new privacy breach notification requirements will impose notice requirements in the event of a “breach of security safeguards” on all Brokerages regulated by the Personal Information Protection and Electronic Documents Act (“PIPEDA”), and corresponding new record-keeping requirements.
The new regulatory requirements set out mandatory breach notification framework, which contain a three-pronged notice requirement:
1. a report to the Office of the Privacy Commissioner of Canada
2. a notice to affected individuals
3. a notice to other organizations
For any privacy and security breaches occurring on or after November 1, 2018, Brokerages will have to navigate this new regulatory maze to ensure; compliance, avoid costly noncompliance consequences and avoid reputational risk.
Recommended for Brokerage Owners/Managers.
$50 additional registrant.