"CFTC and SEC Adopt Identity Theft Red Flag Rules"

The CFTC and SEC have issued jointly a release setting forth final rules and guidelines requiring certain business entities subject to their respective enforcement authorities to establish programs to address identity theft risks.  These identity theft red flag rules will become effective on May 20, 2013 and the compliance deadline is November 20, 2013.

This Stroock Special Bulletin highlights and summarizes key components of the joint release and the identity theft red flag rules.