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The FTC's Safeguards Rule Amendment is Coming

Watch John Zwerneman, VP of Sales at Mosaic Compliance Services, break down the upcoming Safeguards Rule amendment and its potential impact on dealerships.

What's New in the Safeguards Amendment?

The upcoming Safeguards Rule amendment is set to take effect in May 2024. Here's what you need to know to stay ahead of the curve:

Understanding the Update

The Federal Trade Commission (FTC) is rolling out an amendment to the Safeguards Rule to enhance data security regulations. This amendment represents a proactive step towards enforcing data protection measures more effectively and at scale.

Key Points for Dealerships

  1. Mandatory Breach Reporting: Under the updated Safeguards Rule, dealerships must report specific types of data breaches to the FTC.

  2. "Naughty List" Implications: Dealerships that experience reported breaches could find themselves on a public "naughty list," potentially tarnishing their business reputation.

The Importance of Compliance

In today's data-driven world, compliance is not just a box to check; it's a cornerstone of maintaining customer trust and upholding business integrity. Avoiding the "naughty list" is paramount for preserving your dealership's reputation and ensuring continued success.

Sales VP on camera at a conference.  Three auto dealers standing in dealership.  Auto dealer using computer.

How Mosaic Can Help

At Mosaic Compliance Services, we understand the complexities of regulatory compliance and the unique challenges facing dealerships. Our team of experts is dedicated to helping you navigate the Safeguards Rule amendment with confidence. Here's how we can assist:

  • Identifying and Addressing Vulnerabilities: We conduct comprehensive assessments to pinpoint potential data security vulnerabilities within your dealership's operations.

  • Implementing Robust Compliance Measures: From developing tailored compliance strategies to implementing robust safeguards, we provide customized solutions to fortify your data protection framework.

  • Ongoing Support and Training: Our commitment to your success extends beyond mere compliance. We offer ongoing support and training to empower your team with the knowledge and skills needed to maintain compliance vigilance.

Don't Wait Until May!

With the Safeguards Rule amendment looming on the horizon, now is the time to take proactive steps to ensure your dealership is prepared. Please don't wait until it's too late to safeguard your business and reputation. Contact Mosaic Compliance Services today to kickstart your journey towards Safeguards Rule compliance.


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