EXEMPTION FROM DISCLOSURE OF PRIVACY POLICY FOR ACCOUNTANTS.

SEC. 609. EXEMPTION FROM DISCLOSURE OF PRIVACY POLICY FOR ACCOUNTANTS.(a) In General.—Section 503 of the Gramm-Leach-Bliley Act (15 U.S.C. 6803) is amended by adding at the end the following:“(d) Exemption for Certified Public Accountants.—“(1) In general.—The disclosure requirements of subsection (a) do not apply to any person, to the extent that the person is—“(A) a certified public accountant;120 STAT. 1984“(B) certified or licensed for such purpose by a State; and“(C) subject to any provision of law, rule, or regulation issued by a legislative or regulatory body of the State, including rules of professional conduct or ethics, that prohibits disclosure of nonpublic personal information without the knowing and expressed consent of the consumer.“(2) Limitation.—Nothing in this subsection shall be construed to exempt or otherwise exclude any financial institution that is affiliated or becomes affiliated with a certified public accountant described in paragraph (1) from any provision of this section.“(3) Definitions.—For purposes of this subsection, the term ‘State’ means any State or territory of the United States, the District of Columbia, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, or the Northern Mariana Islands.”.(b) Clerical Amendments.—Section 503 of the Gramm-Leach-Bliley Act (15 U.S.C. 6803) is amended—(1) by redesignating subsection (b) as subsection (c); and(2) in subsection (a), by striking “Such disclosures” and inserting the following:“(b) Regulations.—Disclosures required by subsection (a)”.