Purpose

Purpose The purpose of this Regulation is to establish the date by which Licensees regulated by the Mississippi Department of Insurance must comply with the provisions of Title V of GLBA, which becomes effective November 13, 2000. GLBA, inter alia, requires Licensees to establish privacy policies, develop systems for implementing those policies and protecting personal information of consumers and customers, and provide notices to all customers prior to either the effective date or a later compliance date established by rule by the regulator. This Regulation will establish a compliance date of July 1, 2001, for Licensees regulated by the Mississippi Department of Insurance. This date is consistent with the compliance date established by federal regulators responsible for enforcing GLBA as it applies to federally regulated financial institutions.